Johnson Matthey’s (JM) largest shareholder has urged the company to either de-risk or sell its hydrogen technologies business, citing continued operating losses and a lack of clear profitability, as part of broader calls for board reform and a strategic overhaul to halt shareholder value erosion.
Standard Investments, which holds around 11% of JM’s outstanding shares, in an open letter to JM Chairman Patrick Thomas, said immediate action needs to be taken to prevent further value degradation for shareholders.
The investor said under Thomas’ six-year tenure, JM shares delivered a total shareholder return of -53%.
... to continue reading you must be subscribed
