MOSCOW (MRC) -- Klaus Engel has stepped down as CEO of Evonik, with Christian Kullmann taking over the role, reported EPPM.
This changeover occurred at the end of the annual shareholders’ meeting.
Engel has been on the executive board for Evonik since 2007, and then became chairman in 2009.
Werner Muller, Chairman of the Supervisory Board, told Engel: "You successfully led the company through the global financial and economic crisis and steered the development of Evonik from a conglomerate to one of the leading specialty chemical companies. Today Evonik is excellently positioned – and the recent acquisition of Air Products specialty additives business, which you successfully managed in May 2016, contributed to that."
Aldo Belloni, Chief Executive Officer of Linde, also joined the board, after being voted in by shareholders.
Engel said: "Evonik has all the prerequisites to actively and successfully shape the future and to take advantage of attractive and sustainable growth prospects. Therefore, I can leave Evonik in the hands of my successor with confidence."
As MRC informed previously, Evonik Resource Efficiency will invest in a capacity expansion of its performance foams business at its production site in Darmstadt, Germany. The investment will increase the output of the facility by about 20% as a first step. The company will be adding production equipment to its operations complex that manufactures products marketed under the Rohacell brand. The expanded production capacity is expected to be operational by the second half of 2017. Evonik’s Darmstadt plant is currently producing foam products that are used as a core material in the construction of sandwich composites. The global market has shown steady annual growth in the use of composites.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world.
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