24.02.2014 • News • Clariant • Dede Willams • People

Clariant CEO Forfeits a Third of Süd-Cheme Integration Bonus

Hariolf Kottmann, CEO of Swiss specialty chemicals maker Clariant, has made headlines by deciding to forgo half of a €3 million Swiss franc bonus he is due for the integration of Süd Chemie, the German company acquired in 2011.

"A CEO of a listed company must have the sensitivity to follow the wishes of shareholders," Kottmann said in an interview with a Basel newspaper. Major Clariant shareholders, he revealed, were unhappy with plans by the supervisory board to reward the CEO as well as a number of top managers with a special bonus.

The bonus paid to the Clariant CEO for reaching the company's targets in a certain year amounts to 100% of the executive's total salary, in Kottmann's case 6.2 million Swiss francs.

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VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.