Lanxess announces change of leadership at Board of Management

Matthias Zachert joins as Chief Executive and Chairman from Merck KGaA

Matthias Zachert, a former Chief Financial Officer of Lanxess and currently Chief Financial Officer at Merck KgaA, will rejoin his former employer as Chairman and Chief Executive following the departure of Chairman Axel Heitmann, who is leaving 'by mutual agreement'.

Zachert has been a member of Merck's Executive Board since June 2011. He will join Lanxess 'no later than on 15 May', the German chemicals company said.

Until Zachert joins the Board of Management, Lanxess' Chief Financial Officer Bernhard Duettmann will take over the responsibilities of the previous Chairman.

'Lanxess is facing significant challenges, for example in terms of market capacities and business portfolio,' said Rolf Stomberg, Chairman of the Supervisory Board of Lanxess. 'Therefore, the Supervisory Board believes it is the right time to hand over responsibility to a new leadership in order to overcome these challenges.'

Merck KGaA said it would 'decide about a successor for Matthias Zachert in due course'.

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