Less than a year into the job, Mitsubishi Chemical Holdings Corp.’s chief executive officer is taking the scalpel to one of the company’s main businesses in a major push to reduce emissions.
The Japanese chemical giant will exit its carbon products and petrochemicals businesses over the next several years as a step toward carbon neutrality, CEO Jean-Marc Gilson told a briefing in Tokyo Wednesday.
"In the medium term it is our goal to completely exit these businesses,” Gilson said at the briefing, citing the rising cost of energy that’s set to drive consolidation in Japan. The units will likely first be merged with another Japanese firm, after which Mitsubishi Chemical will exit through a sale or IPO, he said.
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