July 17, 2019 / 7:01 AM / 2 months ago

Johnson Matthey sees Clean Air unit profit lower; unit boss retires

July 17 (Reuters) - Chemicals group Johnson Matthey said on Wednesday the head of its Clean Air unit would step down and that it expected full-year profit at the unit that makes pollution filters for both car and trucks to be below prior year.

The company, which earns the lion’s share of its earnings from Clean Air, said John Walker would retire after 35 years with the company and would be replaced by Joan Braca, currently president of Tate & Lyle’s food and beverage solutions.

Johnson Matthey, among Europe’s leading producers of autocatalysts, said in a separate statement that it kept its full-year forecast unchanged even as its Clean Air unit battles higher-than-anticipated costs at its European car business. (Reporting by Yadarisa Shabong in Bengaluru; editing by Gopakumar Warrier)

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