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Mitsubishi Chemical's CEO makes mark with petrochemicals exit

The firm will exit its carbon products and petrochemicals businesses over the next several years as a step toward carbon neutrality, Jean-Marc Gilson said. ....

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Mitsubishi Chemical's first foreign chief vowed to reduce the broad group

Mitsubishi Chemical’s first foreign chief vowed to reduce the broad group
Mitsubishi Chemical will ease its extensive business, which includes more than 530 subsidiaries, with its first CEO outside of Japan facing “sacred cows” to survive in the era of clean energy.
Jean-Marc Gilson, 57-year-old Belgian who took power in April told the Financial Times that it would conduct an aggressive asset study to return the largest chemical company in Japan to profitability as a result of the winds caused by the Covid-19 pandemic.
The surprise appointment of a foreign leader has sparked excitement among the private equity industry and other investors, who hope the 88-year-old team will continue. Hitachi’s footsteps, Takeda Pharmaceutical Company and other Japanese groups that have sold Japanese businesses to invest in more promising futures. ....

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