Johnson Matthey Faces Shareholder Pressure for Board Overhaul and Strategic Review

Largest shareholder Standard Industries criticizes the company’s leadership and calls for potential sale or restructuring following years of underperformance.

Standard Industries, holding 11% of Johnson Matthey, has issued a public letter demanding a board overhaul and strategic review to address the company's declining performance.
The investor criticized Johnson Matthey for losing over £650 million on failed ventures, including battery materials and hydrogen technologies, which remain unprofitable.
The company's share price has dropped 55% over five years, with concerns about the obsolescence of catalytic converters due to the rise of electric vehicles.
Standard Industries has proposed selling the hydrogen technologies business and exploring a potential sale of the entire company to maximize shareholder value.
Shares in Johnson Matthey rose over 4% following the letter, signaling market support for potential changes in leadership and strategy.