Elementis 株主 calls for boss Paul Waterman to やめる
- Gatemore 資本／首都 管理／経営 has written a scathing open letter to Elementis
- 行動主義者 投資家 公式文書，認めるd that Elementis 株 have underperformed their peers
A 目だつ Elementis 株主 has called on the FTSE 250 会社／堅い's 長，指導者 (n)役員／(a)執行力のある to stand 負かす／撃墜する, 説 the 化学製品s 商売／仕事 要求するs '緊急の change'.
行動主義者 投資家 Gatemore 資本／首都 管理／経営 said in a scathing open letter published on Monday that Paul Waterman had 統括するd over an 延長するd period of weak results 原因（となる）d by 'self-（打撃，刑罰などを）与えるd 管理／経営 失敗s'.
The いわゆる 失敗s 含む spending more than half the 会社／堅い's 現在の market capitalisation on 取得／買収s, such as that of Mondo Minerals, which it bought in 2018 for $500million from 私的な 公正，普通株主権 巨大（な） Advent International.
製造業者: Elementis makes 成分s for use in deodorants and 肌 creams
Gatemore owns 0.6 per cent of Elementis 株.??
The letter 告発する／非難するs Elementis of overpaying for Mondo while failing to 達成する the '約束d synergies' from the 引き継ぎ／買収, その為に 原因（となる）ing higher 負債s and cash flow problems that led to a covenant reset and axed （株主への）配当s.
In 新規加入, the 基金 manage r said the company's 財政上の 業績／成果 had been 'disappointing', with 収入s per 株 and operating 利益（をあげる） 利ざやs both 拒絶する／低下するing even after 非常に／多数の cost-cutting 対策.
Gatemore said?Elementis 株 have underperformed their peers and the FTSE 250 索引 by 76 per cent and 86 per cent, それぞれ, since Waterman took over in 2016.?They?were 1.75 per cent up at 139.6p on 早期に Monday afternoon.
Russ Mould, 投資 director at AJ Bell, said: '指名するing and shaming in this way are classic techniques by 投資家s who are fed up with a company.
'Typically, this tends to be a 手段 of last 訴える手段／行楽地, and it will be 利益／興味ing to see if other 投資家s 決起大会／結集させる together and put on more 圧力 to 施行する change in the 商売／仕事.'
Elementis, which?makes 成分s for use in deodorants and 肌 creams, has recently received 引き継ぎ／買収 申し込む／申し出s from US 競争相手s Innospec and Minerals 科学（工学）技術s and 投資 group KPS 資本／首都 Partners.
While Gatemore 定評のある the problems 直面するing London-名簿（に載せる）／表（にあげる）d 会社／堅いs had '明確に not helped', it said this cannot 正当化する Elementis's '規模 of underperformance'.
Gatemore said Elementis's board was 'not 提携させるd' with 株主s because 法人組織の／企業の governance 支配するs discourage 商売／仕事s from incentivising directors with 公正，普通株主権.
いっそう少なく than 0.05 per cent of the 会社／堅い's 株 are held by its 非，不，無-(n)役員／(a)執行力のある directors, 同等（の） to £332,000, but they take in around £526,000 毎年 in 料金s.
'The misalignment in 利益／興味 as 反映するd in this configuration is, unfortunately, not uncommon in UK PLCs, where boards are disincentivised from 事実上の／代理 decisively and with appropriate 緊急 for the 利益 of 株主s,' Gatemore 追加するd.
To turn things around, Gatemore wants Elementis to 取って代わる Waterman because he is 'no longer 信用d to be the individual' to 訂正する 'past missteps'.
Gatemore is also 勧めるing Elementis to 行為／行う a 戦略の review to make it 'more attractive for a 戦略の 買い手' and 速度(を上げる） up its cost 貯金 programme.?
In 返答 to the letter, Elementis said in a 声明: 'The board continues to believe that 株主 value is best driven by a 焦点（を合わせる） on 配達するing the 相当な 活動／戦闘s that are 現在／一般に 存在 進歩d at pace throughout the 商売／仕事 and that underpin 進歩 に向かって the 2026 的s of 19 per cent+ operating 利ざや, >90 per cent cash 転換 and >20 per cent return on 資本／首都, 生成するd by $90million of above market 歳入 growth and $30million cost 貯金.
'The Board continues to engage with, and welcomes feedback from, all 株主s, with a （疑いを）晴らす 焦点（を合わせる） on 運動ing 株主 value, and looks 今後 to updating the market in its 貿易（する）ing update と一緒に its AGM tomorrow.'
