Elementis Share News (ELM)

(ShareCast News) - Specialty chemicals business Elementis announced on Wednesday that is group finance director, Brian Taylorson, will be stepping down from the board at some point in the next year.The FTSE 250 company said Taylorson will depart the firm after assisting Paul Waterman to establish himself as group CEO, and after ensuring an orderly handover to his successor.Its board said it is now undertaking an extensive search process to identify and appoint Taylorson's successor."Mr Taylorson has made a major contribution to the success of the company over many years and remains focused on supporting Paul Waterman, group CEO, in driving the company's strategic and operating plans," the Elementis board said in a statement."He is committed to fully supporting the board in delivering a successful transition."Elementis said his departure will be subject to the terms of his contract, which requires 12 months notice to be given by the company.