Matthias Zachert becomes chairman of Lanxess

The supervisory board of membrane-maker Lanxess AG resolved at its meeting on 26 January 2014 to end, by mutual agreement, the appointment of Axel C Heitmann as member and chairman of the board of management of the company, effective 28 February 2014.

The board has appointed as his successor Matthias Zachert, former chief financial officer (CFO) of Lanxess and currently CFO at Merck KGaA, effective not later than 15 May 2014.

Until Zachert joins the board, current Lanxess CFO Bernhard Duettmann will perform the responsibilities of the previous chairman.

"Mr Heitmann has played a key role in shaping the company since its creation through consistent restructuring and strategic portfolio measures. He has formed Lanxess into a leading global specialty chemicals company, achieving many noticeable successes," said Rolf Stomberg, chairman of the supervisory board of Lanxess AG. "The supervisory board expresses its sincere gratitude and high regard for Mr Heitmann, also on behalf of all employees."

"Lanxess is facing significant challenges, for example in terms of market capacities and business portfolio. Therefore, the supervisory board believes it is the right time to hand over responsibility to a new leadership in order to overcome these challenges," said Stomberg. "Mr Zachert performed excellent work as CFO at Lanxess and has an outstanding reputation among employees as well as in the capital market."

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