Crisis at Clariant or is something brewing? Royer leaves after a few months as head of TLP Division.

There was a surprise announcement by Clariant this morning that Philippe Royer will leave after a few short months in his new position as head of the Textile, Leather and Paper Division. Is this an opportunity move or has Mr Royer heard or seen something he did not like? Time will tell.

The announcement on the Clariant web site is as follows:

'Clariant, ......... announced today that Peter Brandenberg is appointed Head of Clariant’s Textile, Leather & Paper Chemicals Division (TLP) effective immediately. He will continue to serve as member of Clariant’s Board of Management. Mr. Brandenberg, currently responsible for Group Services and International Coordination - replaces Philippe Royer, who leaves the company and will assume the role of Chief Executive Officer (CEO) of a leading European metals supplier.
“Whereas I am disappointed by Mr. Royer’s decision, I accept that his new position is a unique opportunity for him”, said Jan Secher, CEO of Clariant. “At the same time I am delighted that Peter Brandenberg agreed to add another challenge to his long and successful career. He has streamlined the regional organization and the Group service functions to efficient service providers for the divisions. Under his leadership TLP will continue to develop successfully.”

After the markets did not give an upbeat response to Clariant's last quarter results it will be interesting to follow how thing develop for the company in the nex few months. We shall keep you posted.