Evonik´s Chemicals Business Area is getting a new organisational structure
* Dr Manfred Spindler leaving the management board of Evonik Degussa GmbH
Evonik´s Chemicals Business Area is getting a new organisational structure. This was decided by the Supervisory Board of Evonik Degussa GmbH at their meeting held today. The twelve Chemical Business Units will be consolidated into six units. The existing Technology Specialties, Consumer Solutions and Specialty Materials reporting segments remainunaffected by this. The reorganisation work will commence at the beginning of 2008 and should be quickly completed in six months.
On our way to the capital markets the new structure will make a considerable contribution to more efficiency and market orientation in the Group overall. By doing so we will be ensuring that our businesses have the necessary critical mass in each of their worldwide markets. We are doing this by bundling the resources and experience of the Chemical Business Area into six new Business Units as follows:
* C4 Chemistry and Building Blocks will become Base Chemicals (headed by Dr Thomas Haeberle)
* Aerosil & Silanes and Advanced Fillers & Pigments will become Inorganic Materials (headed by Thomas Hermann)
* Care & Surface Specialties and Superabsorber will become Consumer Specialties (headed by Dr Claus Rettig)
* Feed Additives and Exclusive Synthesis & Catalysts will become Health & Nutrition (headed by Dr Hubert Wennemer)
* Coatings & Colorants and Specialty Acrylics will become Coatings & Additives (headed by Dr Hans-Peter Schaufler; will be succeeded by Dr Ulrich Küsthardt at a later point)
* High Performance Polymers and Methacrylates will become Performance Polymers (headed by Gregor Hetzke)
In conjunction with the introduction of a new organisational structure for the Chemicals Business Area of Evonik Industries AG, Dr Manfred Spindler (58) will be leaving the management of Evonik Degussa GmbH by mutual agreement on January 31, 2008. Dr Spindler will remain active for Evonik in his new function as a member of the Evonik Degussa GmbH Supervisory Board.
For over 30 years Dr Spindler did a variety of tasks for the Group. He was a member of the Management Board of the former Degussa AG and its successor organisation starting in 1997. The Chairman of the Executive Board of Evonik Industries AG, Dr Werner Müller, and the Chairman of the Executive Board of Degussa GmbH, Dr Klaus Engel, regret the departure of Dr Spindler and thank him for his services in the successful further development of the Group, in particular in the development of Specialty Polymers and the internationalisation of the Methacrylates business. They wish him all the best for his future.
Information about the Group
Evonik Industries is the creative industrial group from Germany with the highly profitable, promising business areas of Chemicals, Energy and Real Estate. Evonik is the global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our strengths are creativity, specialization, continuous self-renewal, and reliability.
Evonik is active in over 100 countries around the world. In fiscal 2006 more than 43,000 employees generated sales of €14.8 billion and operating profit (EBIT) of over €1.2 billion. Evonik plans to enter the capital markets in the first half of 2008.
In so far as forecasts or expectations are expressed in this press release and where our forward-looking statements concern the future, these forecasts, expectations, and statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Evonik Industries AG assumes no obligation to update the forecasts, expectations or statements contained in this release.
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