Gatemore Capital Management has published an open letter to John O’Higgins, chairman of the board at UK-based speciality chemicals company Elementis, stating that there is “an urgent need for change”. This echoes a letter from another ‘activist’ shareholder in late 2023.

Elementis mainly supplies the personal care sector, notably cosmetic and antiperspirant actives – it is the world market leader in the latter field. 85% of its products are of natural origin. Coatings and paper are other key markets.