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Johnson Matthey lifts profit, CEO to retire in June

Reuters - UK Focus

LONDON, Jan 30 (Reuters) - The chief executive of catalyst maker Johnson Matthey (LSE: JMAT.L - news) will retire in June, the company said on Thursday after reporting a rise in third-quarter profit thanks to new, tighter vehicle emissions rules in Europe.

CEO for a decade, Neil Carson will step down from his role at the British speciality chemicals company after annual results are announced in June and will be succeeded by Robert MacLeod, who joined the company as Finance Director in 2009.

Carson will remain on the board until the end of September to ensure a smooth handover.

The world's leading manufacturer of catalysts to control car emissions said that third-quarter underlying profit before tax stood at 96 million pounds ($159 million), up 16 percent from 82.7 million pounds in 2012/13.

Sales excluding precious metals were 12 percent higher at 708 million pounds.