Clarent CEO leaves after 10 months after discussions with SABIC

Zurich – Clarent's director, Ernesto Ocello, leaves his post just 10 months after plunging into negotiations between the Swiss chemicals producer and Saudi Basic Industries Corp. (Sabic) on the future of a key business area.

SABIC holds a 25% interest in Clarent.

Harleft Cotman, today chairman of the board and former chief executive, will temporarily fill the position until his replacement, said Clarence, based in Clarence, in a statement released on Wednesday. Clarient did not give any details, but stated that Ocello had left the post "for personal reasons and immediately".

Ochelo, a former senior executive of SABIC, took the leadership of Clarent last September when he took office as president.

Clarent, which sells activities such as specialized medical devices for faster-growing units, is in talks with SABIC about creating a high performance materials unit. The joint venture will combine Clarent specialty additives and colorants with elements of its specialty chemicals business. Clarent will implement its strategy, "he said, adding that he would announce the details of the SABIC talks on Thursday, when the company's results will announce the results for the first half of 2019.