Platform Specialty Products says Rakeh Sachdev intends to retire as CEO
As previously announced, Platform has obtained all approvals necessary to complete the sale of Arysta to UPL and expects the transaction to close on January 31, 2019. The closing of this transaction will start a new chapter for Platform, which will change its name to Element Solutions and be traded on the New York Stock Exchange under the ticker symbol "NYSE:ESI." As a part of this change, the company separated its previously reported Performance Solutions segment in the fourth quarter of 2018 into: Electronics and Industrial & Specialty. Rakesh Sachdev has announced his intention to retire from his current role of CEO of Platform, effective at closing of the transaction, while remaining an active Board member of the Company. Platform's Board has named Benjamin Gliklich, currently Executive Vice President of Operations & Strategy, to succeed MSachdev as CEO and to join Platform's Board of Directors. Element Solutions will be led by Executive Chairman Martin E. Franklin, Mr. Gliklich, and Scot R. Benson, who has been promoted to the role of President & COO, as members of the new Office of the Chairman.