Ciba Specialty's chairman jogs Swiss industry
Article Abstract:
Ciba Specialty Chemicals Inc., a Basel, Switzerland-based company, is led by CEO Rolf Meyer, who introduced US-style, performance-oriented corporate culture in the Swiss industrial establishment. Analysts rated the company highly for being ahead of the schedule set for the large-scale restructuring program that follows Ciba Specialty's spinoff from Novartis AG. Meyer ensured that the performance-oriented principle is entrenched in the company by requiring the executive committee to, among others, invest a year's salary to stock options. All incentive programs in the company are based on the same company-wide profit formula.
Comment:
Is led by CEO Rolf Meyer, who introduced US-style, performance-oriented corporate culture in the Swiss industrial establishment
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Zenecca narrows its focus with chemical unit offer; company decides to sell its division as sector begins to consolidate
Article Abstract:
Zeneca Group PLC opted to sell its specialty chemicals division in a move that could bring up to 1.5 billion pounds sterling. The divestment comes as the sector, which has just seen the planned merger of Clariant AG with Ciba Specialty Chemicals AG, is gearing for rapid consolidation. Zeneca's departure hastens the trend towards decreasing but bigger global groups. Sir David Barnes, Zeneca CEO, said it planned the divestment because it has to be twice as big so it could survive in the industry. The company, which is also in pharmaceuticals and agrochemicals, said it is better to concentrate on its other businesses.
Comment:
Opts to sell its specialty chemicals division in a move that could bring up to 1.5 billion pounds sterling
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Ciba Specialty to trim 1,100 jobs following loss
Article Abstract:
Ciba Specialty Chemicals AG is expected to reduce its global laborforce by 4.4% which is equivalent to 1,100 positions due to significant losses of 791 million Swiss francs during the first semester of 1998. Ciba will merge an integration scheme for its Allied Colloids acquisition along with further reorganization efforts to improve the operating profits for 1999 by 100 million francs, indicated Chairman Rolf Meyer. In addition, Ciba hiked its sales by 9.1% to 4.29 billion francs for the first six months of the year.
Comment:
Is expected to reduce its global laborforce by 4.4% which is equivalent to 1,100 positions
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Comment about this article or add new information about this topic:
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