Cosalt chief quits amid losses

Cosalt said its chief executive will step down following the sale of the offshore safety group’s marine unit, and it reported a wider adjusted pretax loss for the first half, hurt by lower volumes and raw material shortages. Mark Lejman, the chief executive since June 2008, has agreed to step down in October, Cosalt said. It said Lejman will be replaced by Trevor Sands, who joins from global engineering firm Emerson Electric.