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Finance

Clariant wraps up probe into books

by Alexander H. Tullo
April 30, 2022 | A version of this story appeared in Volume 100, Issue 15
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After an investigation into accounting practices, Clariant chief financial officer Stephan Lynen is stepping down and the company is restating financial results for 2020. The Swiss firm announced in February that it was launching a probe into incorrect accounting of provisions and accruals such as restructuring charges and environmental provisions. As a result, Clariant will readjust some figures for 2020 and some quarterly data for 2021. For example, its before-tax profit margin for 2020 will be 15.5%, instead of 15.0% as previously reported.

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