UK's Johnson Matthey plans to exit battery business as CEO leaves

Johnson Matthey said on Thursday it plans to exit its battery materials business due to intense competition and low returns while warning on annual results and announcing the departure of Chief Executive Officer Robert MacLeod.

The chemicals maker, which flagged that annual results were being hit by supply chain disruptions and acute labor shortage in the United States, said MacLeod would leave in February after almost eight years in the role and will be replaced by Bayer AG's Liam Condon.

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