Finance
Clariant board wants to add BP Chair Manifold to its ranks
Published by Global Banking and Finance Review
Posted on January 19, 2026
1 min readLast updated: January 19, 2026
Quick Summary
Clariant proposes BP Chair Albert Manifold for its board, aiming to enhance strategic direction and financial performance amid legal challenges.
Clariant Proposes BP Chair Albert Manifold for Board Membership
Clariant Board Changes and Strategic Moves
LONDON, Jan 19 (Reuters) - The board of Swiss speciality chemicals maker Clariant has proposed adding BP Chair Albert Manifold to its ranks at its annual general meeting on April 1, Clariant said on Monday.
Proposed Board Members
The board also proposed the re-election of Chair Ben van Beurden, former CEO of Shell.
Financial Strategies
Clariant, whose chemicals are used in smartphone and electric vehicle production, is reducing spending through job cuts, production facility closures and procurement reductions to bolster its margins as it waits for a meaningful rebound in demand.
Legal Challenges
The Swiss firm has rejected allegations by BP Europe and an ExxonMobil subsidiary, which are seeking damages for breaching competition law in the ethylene purchasing market.
(Reporting by Shadia Nasralla; Editing by Susan Fenton)
Key Takeaways
- •Clariant proposes Albert Manifold for board membership.
- •Re-election of Chair Ben van Beurden is also proposed.
- •Clariant aims to reduce spending and increase margins.
- •The company faces legal challenges from BP and ExxonMobil.
- •Annual general meeting scheduled for April 1.
Frequently Asked Questions about Clariant board wants to add BP Chair Manifold to its ranks
1What is corporate governance?
Corporate governance refers to the systems and processes that direct and control a company, ensuring accountability and transparency in its operations.
2What are financial strategies?
Financial strategies are plans and actions that a company takes to manage its financial resources effectively, aiming to achieve its business goals and maximize profitability.
