The Board of Directors of Johnson Matthey (JM; London, www.matthey.com) has announced that Patrick Thomas will succeed Tim Stevenson as Chairman.
Patrick will join the board as Non-Executive Director and Chairman Designate on 1st June 2018. He will be appointed as Chairman of the board with effect from the end of the Annual General Meeting on 26th July 2018 when Tim Stevenson retires, after seven years as Chairman.
Patrick has deep experience in leading international speciality chemicals businesses. He brings to Johnson Matthey an impressive track record of driving growth through science and innovation across global markets. Since 2015 Patrick has been Chief Executive Officer and Chairman of the Board of Management of Covestro AG, a world leading polymers business. Between 2007 and 2015 he was also Chief Executive Officer of its predecessor, Bayer MaterialScience, prior to its demerger from Bayer AG. Patrick will step down from his role at Covestro AG at the end of May 2018.
Before joining Bayer, Patrick spent five years with the global chemical company, Huntsman Corporation, including as President of its Polyurethanes, Performance and Advanced Materials divisions. Prior to this he was Chief Executive of ICI’s polyurethanes business and led its integration into Huntsman. In his earlier career, Patrick held a number of global and regional roles in ICI.
Patrick also has strong board experience. He is currently an independent non-executive director of Akzo Nobel N.V., the paints, coating and specialty chemicals group. He was previously an independent non-executive director and member of the Audit and Remuneration Committees of BG Group plc from December 2010 to February 2016.
Patrick’s background is in Engineering Science; he has an MA from Oxford University, is a Fellow of the Royal Academy of Engineering and a Fellow of the Institute of Engineering and Technology.
Commenting on Patrick’s appointment, Tim Stevenson, Chairman of Johnson Matthey, said: “I am thrilled that the board has chosen Patrick to succeed me as Chairman. Patrick brings a valuable combination of extensive board experience and recent executive leadership of major global organisations. I am confident that he will successfully steer Johnson Matthey to deliver continued value for our shareholders as we pursue our vision to make the world a cleaner and healthier place.”
Robert MacLeod, Chief Executive of Johnson Matthey, added: “I am delighted to welcome Patrick as the future Chairman of Johnson Matthey and look forward to working with him as we deliver our growth strategy.”
Commenting on his appointment, Patrick Thomas said: “I am really excited to be joining Johnson Matthey, a company with a strong reputation for science and a great team of people. I am looking forward to joining the board as we continue to evolve and grow, creating value for our shareholders and for the world around us.”