Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SAUDI ARABIA STOCK EXCHANGE  >  Saudi Basic Industries Corporation SJSC    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION SJSC

(2010)
  Report
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Clariant's leadership reshuffle continues as CFO jumps ship to Maersk

share with twitter share with LinkedIn share with facebook
share via e-mail
02/12/2020 | 01:43am EST
Logo of Swiss specialty chemicals company Clariant is seen in Pratteln

Clariant Chief Financial Officer Patrick Jany is exiting for a post at Maersk, the world's biggest shipping company, marking the latest management change at the Swiss speciality chemicals maker after its CEO jumped ship last year.

Jany is being replaced by Stephan Lynen, a 49-year-old who currently heads the Muttenz-based chemicals maker's additives business unit after joining Clariant in 1998 as an internal auditor.

Jany is leaving for the CFO job at Maersk, whose $39 billion in annual revenue will be nearly 10 times that of Clariant after the Swiss company completes a shrinking exercise following the disposal of units that account for a third of its sales.

Lynen arrives as the Swiss company is still trying to find a CEO in the wake of the sudden departure of Ernesto Occhiello amid the collapse of a planned joint venture with Clariant's biggest shareholder, Saudi Basic Industries.

"We very much regret Patrick Jany's decision to leave Clariant," said Chairman Hariolf Kottmann, who is filling the CEO role on an interim basis. "Patrick Jany has been with our company for 25 years and has played a major role in our success story."

Kottman said Lynen's 22-year career at Clariant gave him the "perfect profile" to replace Jany.

Maersk has also seen turmoil at the top, with the departure of its CFO last November to join General Electric, just after the shipper's chief operating officer exited to join Swiss headquartered rival Mediterranean Shipping Co.

(Reporting by John Miller, editing by Riham Alkousaa and Brenna Hughes Neghaiwi)

Stocks mentioned in the article
ChangeLast1st jan.
A.P. MØLLER - MÆRSK A/S -1.48% 8106 Delayed Quote.-14.36%
CLARIANT LTD -0.73% 23.2 Delayed Quote.8.19%
GENERAL ELECTRIC COMPANY -2.23% 12.25 Delayed Quote.9.77%
SAUDI BASIC INDUSTRIES CORPORATION SJSC End-of-day quote.
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SAUDI BASIC INDUSTRIES COR
02/21EXCLUSIVE : Aramco to win unconditional EU clearance for $69 billion SABIC deal ..
RE
02/21EXCLUSIVE : Aramco to win unconditional EU clearance for $69 billion SABIC deal ..
RE
02/12Clariant's leadership reshuffle continues as CFO jumps ship to Maersk
RE
01/30Sinopec's Tianjin refinery plans major overhaul, revamp for cleaner fuel - so..
RE
2019YOKOGAWA ELECTRIC : Signs Strategic Alliance Agreement with Saudi Basic Industri..
AQ
2019EXCLUSIVE : Saudi Aramco pursues war cover after attacks - sources
RE
2019Alibaba, Aramco share sale bonanza fails to produce fee windfall for banks
RE
2019Alibaba, Aramco share sale bonanza fails to produce fee windfall for banks
RE
2019ARAMCO IPO BANKS FACE PARED PAYDAY O : sources
RE
2019Saudi Aramco in race for IPO record with $1.7 trillion top value
RE
More news
Financials (SAR)
Sales 2020 148 B
EBIT 2020 22 021 M
Net income 2020 10 904 M
Finance 2020 6 423 M
Yield 2020 5,54%
P/E ratio 2020 21,4x
P/E ratio 2021 15,7x
EV / Sales2020 1,66x
EV / Sales2021 1,57x
Capitalization 252 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 10
Average target price 91,69  SAR
Last Close Price 84,00  SAR
Spread / Highest target 36,9%
Spread / Average Target 9,15%
Spread / Lowest Target -16,7%
EPS Revisions
Managers
NameTitle
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Abdulaziz bin Saleh M. Al-Jarbou Chairman
Timothy D. Leveille Executive Vice President-Corporate Finance
Fahad Al-Sherehy Executive Vice President-Technology & Innovation
Abdullah Mohammed bin Ibrahim Al-Issa Non-Executive Director
Sector and Competitors