Israel Chemicals (ICL) said on Sunday its chairman Nir Gilad will be retiring in the next few months following an appointment of a new chairman.
Gilad has been chairman of ICL, one of the three largest suppliers of the crop nutrient potash to China, India and Europe, since January 2008.
Details of the retirement and timing will be subsequently published, ICL said in a statement to the Tel Aviv Stock Exchange.
By Steven Scheer
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.