Amsterdam-based Corbion, which specialises in lactic acid and derivatives, food preservation, functional blends and algae ingredients, has become the latest speciality chemical company to come under pressure from an ‘activist shareholder’ to change its strategy.

At their AGM on 15 June, Brenntag shareholders voted for the company’s supervisory board candidates and rejected alternatives from ‘activist’ investor PrimeStone Capital, which has been agitating for a radical change in strategy. All of the motions proposed by the board were also approved, including a €2/share divided payout.

Richard Ridinger was re-elected as a member of the supervisory board with 62.71% of the votes cast, while Sujatha Chandrasekaran was newly elected with 61.79%. At its constituent meeting following the AGM, the supervisory board elected Ridinger as chairman.

Huntsman shareholders have voted to elect all ten of its director nominees to the board at their AGM, giving the management an important victory over ‘activist’ shareholder Starboard, which had been trying to steer the firm in a different direction. It can now continue to follow the strategy outlined at an Investor Day in November 2021, subject to final results.