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Supervisory Board appoints Dr. Klaus Engel to succeed Dr. Werner Muller as Chairman of the Executive Board

Published on 2008-09-19. Author : SpecialChem

  • Dr. Werner Muller to step down on December 31, 2008
  • Dr. Klaus Engel to succeed him on January 1, 2009
  • Koltes and Wildmoser join the Supervisory Board

Essen., Germany -- The Supervisory Board of Evonik Industries AG, Essen approved the request made by Dr. Werner Muller (62), Chairman of the Executive Board of Evonik Industries AG, to be released from his contract as of December 31, 2008. At the same time, the Supervisory Board appointed Dr. Klaus Engel, Member of the Executive Board of Evonik Industries AG and Chairman of the Board of Management of Evonik Degussa GmbH, to succeed him as Chairman of the Executive Board of Evonik Industries AG effective January 1, 2009. The Supervisory Board unanimously accepted the proposals put forward in August by the Executive Committee of the Supervisory Board, which is chaired by Wilhelm Bonse-Geuking.

On behalf of the Supervisory Board, Wilhelm Bonse-Geuking thanked Dr. Werner Muller for his outstanding achievements in the transformation of the former RAG Group and the establishment of Evonik Industries AG. He wished Dr. Engel success and entrepreneurial foresight in his new role: " With Klaus Engel at the helm, we know that the Group is in the best of hands."

Dr. Werner Muller thanked the Supervisory Board for its good and trustful collaboration. "The Evonik Group is well-positioned. I am certain that my colleague Klaus Engel, a confirmed capital market expert, will lead the group into a successful and profitable future," said Muller.

Dr. Klaus Engel thanked the Supervisory Board for the trust placed in him. "I look forward to working with my colleagues on the Executive Board from next year to prepare to Evonik systematically for flotation on the stock exchange," said Engel.

Further, Mr. Steven Koltes, Managing Partner of CVC Capital Partners, and Dr. Christian Wildmoser, Partner at CVC Capital Partners, have been elected to the Supervisory Board. CVC funds hold a 25.01 percent stake in Evonik through Gabriel Acquisitions GmbH. Koltes and Wildmoser succeed Werner Wenning and Martin Blessing, who are leaving the Supervisory Board.

Company information

Evonik Industries is the creative industrial group from Germany which operates in three business areas: Chemicals, Energy and Real Estate. Evonik is a 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 its fiscal year 2007 about 43,000 employees generated sales of about €14.4 billion and an operating profit (EBIT) of more than €1.3 billion.

Forward Looking Statements

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

Source: Evonik


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