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Mitsubishi Chemical Holdings Corporation: Notice Regarding Change in Representative Corporate Executive Officers

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Mitsubishi Chemical Holdings Corporation (MCHC) (TOKYO: 4188) announced that, at the meeting of its Board of Directors held today, it resolved change of representative corporate executive officers as outlined below.

1. Change in Representative Corporate Executive Officers

(Appointed)

Name:

Jean-Marc Gilson

 

Title:

Representative Corporate Executive Officer

 

 

President and Chief Executive Officer

 

 

(Retiring)

Name:

Hitoshi Ochi

 

Title:

Representative Corporate Executive Officer

 

 

President and Chief Executive Officer

2. Biographical Sketch of New Representative Corporate Executive Officer

Refer to the appendix

3. Scheduled Date of Appointment

April 1, 2021

4. Reason for the Change

MCHC converted to a company with a nominating committee, etc. in June 2015. Since then, the Nominating Committee has carried out preparations to properly conduct nominations, taking into account the period covered by the medium-term management plan and other factors. Representative Corporate Executive Officer, President and CEO, Hitoshi Ochi, has recently expressed his intent to retire at the end of the current fiscal year that coincides with the conclusion of the current medium-term management plan, where the fortification of its business infrastructure has been achieved to a meaningful degree. Therefore, the Nominating Committee explored and selected specific candidates of his successor.

The Nominating Committee set the following criteria for the next Representative Corporate Executive Officer, President and CEO. The individual had to be able to execute the following initiatives reflecting our Group Philosophy, KAITEKI.

(1)

Able to build a strategic vision and branding strategy, foreseeing the post-COVID 19 world, that integrates the healthcare business, including biochemicals and life science, with the high-value added chemicals business based on the high-performance products

(2)

Capable of improving corporate value particularly from the perspective of shareholders and investors

(3)

Able to decisively implement portfolio transformation through strong leadership

The Nominating Committee searched globally for suitable candidates, both inside and outside the company. It conducted multifaceted evaluations, including interviews with candidates and gathered references from related parties on the past performance of potential candidates. The Nominating Committee ultimately nominated Jean-Marc Gilson based on which MCHC, at the meeting of Board of Directors today, adopted the resolution to select him as the next Representative Corporate Executive Officer, President and CEO.

Jean-Marc Gilson has demonstrated leadership in the positions of president or chief executive in charge of business operations at various US and European chemical companies. This includes Executive Vice President, Specialty Chemicals Business at Dow Corning. Then he served as CEO at Avantor Performance Materials, which was selected by New Mountain Capital, a private equity fund, as their first investment in the chemicals sector. After this, at the request of New Mountain Capital, he served as COO at NuSil Technology. At present, he serves as CEO of Roquette, headquartered in France.

Jean-Marc Gilson possesses a global outlook in the fields of specialty chemicals and life science. In his previous experiences he worked at, Gilson built a proven track record for decisively executing portfolio transformation. In addition, he fully understands how correctly establishing strategies and clearly disseminating these strategies to all stakeholders contributes to the improvement of corporate value.

Given his performance, competencies and enthusiasm to lead the company, we determined that Jean-Marc Gilson is the optimal choice to lead MCHC realizing our vision of sustainable growth by accelerating our portfolio transformation and globally undertaking initiatives to solve social issues based on the Group Philosophy, KAITEKI.

Appendix

Biographical Sketch

Name:

Jean-Marc Gilson

Date of Birth:

December 16, 1963

Place of Birth:

Belgium

 

 

Professional Experience

1989

Joined Dow Corning

2005

Corporate Vice President & General Manager of Specialty Chemicals Business, President Asian Area, Dow Corning

Shareholder Representative Director, Dow Corning Toray

2009

Executive Vice President & General Manager of Specialty Chemicals Business,

Dow Corning

2011

Chief Executive Officer, Avantor Performance Materials

2012

Vice-Chairman & Chief Operating Officer, NuSil Technology

2014

Chief Executive Officer, Roquette

2021

To be appointed Representative Corporate Executive Officer,

President and Chief Executive Officer,

Mitsubishi Chemical Holdings Corporation

Number of shares held: N/A

Mitsubishi Chemical Holdings Corporation

Osamu Shimizu

General Manager, Public Relations and Investor Relations Office

Tel: [+81] (0)3-6748-7120

News

Salaries set to rise in 2021, but employers in the Philippines signal increased caution, says Mercer survey

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  • Companies forecast a 5.6% overall increase in salaries for 2021, but more than half say they expect changes to salary increment levels.
  • Nearly seven in 10 companies have implemented a hiring freeze
  • 14% of companies expect lower bonus payouts for 2021, with one in two stating it is too early to tell

MANILA, PHILIPPINES – Media OutReach – 1 December 2020 – Salaries in the Philippines are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic. Companies in the Philippines are forecasting an average 5.6% overall increase in salaries for 2021, up from 5.3% this year.

 

This is according to the annual Philippines Total Remuneration Survey (TRS) 2020 by Mercer, a global consulting leader in talent, health, retirement, and investments. The survey polled 416 companies across multiple industries in the Philippines between April and June this year, with additional surveys conducted in July and August in light of the fast-changing market environment.

 

The projected salary increments come on the back of an uncertain economic outlook for the Philippines, with Gross Domestic Product (GDP) expected to contract by 8.3% this year. While growth is expected to rebound to 6.5% [1]in 2021, downside risks such as a slower-than-expected global recovery that could weigh heavily on trade and investment, have resulted in caution among companies.

 

Floriza Molon, Mercer’s Career Business Leader for the Philippines said, “Due to the uncertainty, more than half of the companies have indicated that they will delay the increase of salaries or revise salary increment levels. With sustained pressure on businesses to keep costs down, we see that companies are taking a cautious approach with regards to salary budgets.”

 

Across industries surveyed, the Chemical industry is expected to see the biggest rebound in salary increments at 5.5% in 2021, up from 3.9% in 2020. The Consumer, Life Sciences, Energy as well as Retail and Wholesale industries also saw slight increases compared to last year.

Ms Molon added, “While the salary increase budget remains stable in spite of the pandemic, what we are seeing is that companies are increasingly prudent with their compensation policies as well as the allocation of the salary budget. Some of the considerations include how business-critical the roles are, the potential and performance of the employees, flight risk and availability of jobs in the market.” 

Variable Bonuses for 2020 remained stable, but decreases expected in 2021


Overall, average budgeted bonuses for 2020 dipped slightly at 16%, compared to 17% in 2019. The Life Science industry saw the highest increase at 23% compared to 20% in 2019, while bonus payouts decreased in the Consumer, Logistics and Shared Services & Outsourcing industries.

Ms Molon said, “91% of companies provided bonuses in 2020, reflecting their strong performance in 2019. However, we foresee a decrease in bonus payout in 2021 due to the uncertain economic environment.”

Looking ahead, 14% of companies expect the bonus payout for 2021 to be less than the previous year, while 50% say it is too early to tell. Only 8% of companies expect budgeted bonuses to increase in 2021.

With the cautious business outlook, recruitment efforts are expected to slow in the year ahead. 69% of companies in the Philippines indicated that they have imposed a hiring freeze in 2020, with 10% reducing headcount due to the pandemic.

Embracing Flexible Working


The survey has also seen a shift to remote working arrangements among companies in the Philippines. 67% of the organization have implemented remote working arrangements in response to the COVID-19 outbreak with 58% projecting that employees will be more likely to use flexible working arrangement post-pandemic.

Teng Alday, Mercer’s CEO for the Philippines said, “Companies in the Philippines have successfully implemented flexible work arrangements amid the pandemic, with only 14% of companies stating a decrease in the level of productivity. We foresee more employers embracing flexible working arrangement which provides an opportunity for companies to review their compensation and total rewards packages more holistically to adopt variable pay and other reward initiatives such as work-from-home allowances to recognise and retain critical talent.

“As the financial impact of the pandemic continues to play out, companies are taking a cautious approach in light of cost pressures and the need to protect their core business. We encourage companies to adopt strategies that balance economics and empathy as employee engagement and retention will be critical in their road to recovery.”

About Mercer’s Total Remuneration Survey

The Total Remuneration Survey, Mercer’s flagship annual compensation and benefits benchmarking study, identifies current pay practices and benefits policies, as well as budget, hiring and turnover trends for the year ahead. In addition, Mercer also conducts regular pulse surveys throughout the year to keep up with the impact of the rapidly changing business environment and compensation and workforce trends.

For more data and insights from Mercer’s Philippines Total Remuneration Survey 2020, please see here.

About Mercer

Mercer builds brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 25,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a business of Marsh & McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 75,000 colleagues and annualized revenue approaching $17 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter [View Image]@Mercer.

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Lee Kum Kee Sauce Group Appoints Ms. Katty Lam as Chief Executive Officer

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HONG KONG SAR – Media OutReach – 1 December 2020 – Lee Kum Kee Sauce Group announces the appointment of Ms. Katty Lam as Chief Executive Officer with effect from today.

[View Image]

Ms. Katty Lam has over 25 years’ work experience with renowned multinational food companies. Prior to joining Lee Kum Kee, Ms. Lam was Danone’s Regional Vice President, Greater China — Early Life Nutrition Division. Began her career with KPMG as an auditor, Ms. Lam later joined PepsiCo China, with her last position being the Chairman, Greater China Region. During her 22-year tenure with PepsiCo, she served in different management roles in finance, marketing, beverage bottling and foods operations. Ms. Lam holds an MBA from the University of Portland, US, and a bachelor’s degree in Accountancy from the City University of Hong Kong.

Mr. Charlie Lee, Chairman of Lee Kum Kee Sauce Group, welcomed Ms. Lam: “With her extensive experience, Ms. Lam will lead the Group’s overall business strategy and development, strengthen collaboration and drive innovation initiatives to ensure the Group continues to be recognised as a global leader in Asian sauces and condiments. Together, we will work towards our vision of ‘Where there are people there is Lee Kum Kee’.”

ABOUT LEE KUM KEE

Lee Kum Kee was established in 1888 by its founder Mr. Lee Kum Sheung. With its sustainable development in 132 years, Lee Kum Kee has become a household name of sauces and condiments, as well as an international brand and “a symbol of quality and trust”. Spanning over three centuries, Lee Kum Kee is a globally renowned multinational corporation offering over 200 types of sauce and condiment to over 100 countries and regions. Please visit www.LKK.com for further details.

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“Emma by AXA”, your insurance and healthy living partner Download now to enjoy first-in-market free “Post-Vaccination Protection”

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HONG KONG SAR – Media OutReach – 30 November 2020 – Emma by AXA — AXA‘s all-in-one insurance & health services platform is now providing first-in-market free “Post-Vaccination Protection”. Hong Kong and Macau residents can enjoy one year of free “Post-Vaccination Protection” by downloading the Emma by AXA app and completing a simple registration. The offer is applicable to all Hong Kong and Macau residents aged 18 to 65, with a valid Hong Kong or Macau ID card. Each applicant can register for four of his/her family members (spouse or child) aged 65 or below. Limited quota only, first come-first served.

Emma by AXA has been launching in phases since May 2019, providing a comprehensive range of insurance and healthy living services, with four key features:

Symptom Checker — An AI-powered chat functionality that integrates the U.S. top medical group Mayo Clinic’s algorithms. It can understand the symptoms input by users and provide useful information.

Find a Doctor — Find the most suitable AXA panel doctors based on consultation type and preferred location.

Make a Claim — Submit medical claims based on eligibility and track the claim status at any time.

Mind Charger — A mindfulness meditation tool with selective modules guided by the renowned yoga instructor, Margaret Chung. Through this tool, users can enhance their daily lives and build up resilience by making mindfulness a regular practice. Modules include Relax and Unwind, Problem Solving, Positivity and Building Resilience.

Download “Emma by AXA” to get the first-in-market free “Post-Vaccination Protection” *

From today, Hong Kong and Macau residents aged 18 to 65, holding a valid Hong Kong or Macau identity card, can get one year free “Post-Vaccination Protection” simply by downloading the Emma by AXA mobile app and completing a simple registration. Each applicant can register for four of his/her family members (spouse or child) aged 65 or below. Limited quota only, first come-first served.

Post-Vaccination Protection: Free hospital and death benefits

Hospital benefit:  HKD700 per day for up to 10 days payable to eligible applicant who is diagnosed with an Adverse Event Following Immunisation (AEFI) within 14 days post-vaccination and is confined in a hospital.

Death benefit: A one-off lump sum of HKD100,000 payable to eligible applicant’s estate if the applicant is diagnosed with an AEFI within 14 days post-vaccination and its complications result in death.

To learn more about the “Post-Vaccination Protection”, please contact AXA Customer Service Hotline (852) 2894 4679 (Hong Kong) / (853) 8799 3778 (Macau) during office hours (9am — 5pm, Monday to Friday), or visit axa.com.hk.

Scan the QR code to download “Emma by AXA”

[View Image]

 

*Complimentary protection is applicable to adults and children who take vaccination, subject to terms and conditions. For details, please visit axa.com.hk/en/axa-post-vaccination-protection-programme.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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