Johnson Matthey to increase cash efficiency, reduce consumption in hydrogen technologies By Reuters
(Reuters) – British manufacturer of autocatalytic converters Johnson Matthew (LON: ) said on Monday it had implemented plans to significantly increase its cash efficiency and reduce its capital expenditure in its hydrogen technology business following pressure from a major investor.
Standard Investments, Johnson Matthey’s largest shareholder, last month called on the group to launch a strategic review and overhaul its board of directors.
“The board fully recognizes the need to improve the absolute share price and deliver enhanced returns for shareholders,” the London-based company said in a statement.
Johnson Matthey said it was reviewing the group’s executive remuneration schemes to increase the weighting of cash generation targets and set up a new investment committee, mainly to review cash generation and initiatives launched to boost cash delivery.
