The Supervisory Board of LANXESS AG resolved to end, by mutual agreement, the appointment of Axel C. Heitmann as Member and Chairman of the Board of Management of LANXESS AG.
LANXESS is facing significant challenges, for example in terms of market capacities and business portfolio. Therefore, the Supervisory Board believed it is the right time to hand over responsibility to a new leadership in order to overcome these challenges.
The Supervisory Board has appointed as his successor Matthias Zachert, former Chief Financial Officer of LANXESS AG and currently Chief Financial Officer at Merck KGaA. Matthias Zachert will take over as Chairman of the Board of Management of LANXESS AG on April 1, 2014.
Until Mr. Zachert joins the Board of Management, LANXESS Chief Financial Officer Bernhard Duettmann is performing the responsibilities of the previous Chairman of the Board of Management.