Statement from Gatemore Capital Management LLP on Elementis plc

LONDON, Nov. 18, 2024 /PRNewswire/ — Liad Meidar, Managing Partner, Gatemore Capital Management, said:

“Gatemore has consistently and publicly called on Elementis to take three critical steps to revert its prolonged underperformance and unlock intrinsic value: first, accelerate cost reductions; second, conduct a strategic review of the talc business; and third, replace the CEO.

We welcome the company’s decision today of a CEO transition: this marks the implement the third step we called for, while the first two measures were announced in August.

While this progress is encouraging, we continue to await the outcome of the strategic review of the talc business. Additionally, we remain actively engaged with fellow shareholders to ensure the optimal composition of the board and to determine who is best suited to lead the process of selecting a new CEO to drive the company forward.”

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