ALTANA Management Board Repositions Itself for the Future
- Dr. Matthias L. Wolfgruber (61) is going to retire and will hand over the chairmanship of the Management Board to longtime Management Board member Martin Babilas (43) on January 1, 2016
- Stefan Genten (46) will become ALTANA's new Chief Financial Officer on August 1, 2015
WESEL, Germany, June 26, 2015 /PRNewswire/ -- The Supervisory Board of the specialty chemicals company ALTANA has appointed Martin Babilas (43) to become the Chief Executive Officer. On January 1, 2016, he will succeed Dr. Matthias L. Wolfgruber (61), who will retire. Martin Babilas has been the Chief Financial Officer of ALTANA AG since 2007. In November of last year, he took over additional responsibility of two of the company's four divisions from Dr. Wolfgruber. Babilas has worked for ALTANA since 1998.
"The generation change in the company's management reflects sustainable corporate development, as well as the Group's ability to change," said Dr. Klaus-Jurgen Schmieder, Chairman of the Supervisory Board of ALTANA AG. "Under the leadership of Dr. Wolfgruber, ALTANA's chemical business has developed extraordinarily successfully in the last 13 years while undergoing constant changes. We would like to express our sincere gratitude and great appreciation for him already today. As a longtime member of the Management Board, Martin Babilas has played a key role in the development of ALTANA's strategy. We are convinced that he will continue to lead the company on this successful path."
The Supervisory Board has appointed Stefan Genten (46) as ALTANA's new Chief Financial Officer as of August 1, 2015. Stefan Genten worked in various management capacities for the Grunenthal pharmaceutical group for 13 years, since 2005 as a member of the Corporate Executive Board and as the CFO. He was also in charge of operative functions, for example for the Latin American business, and as Group Chief Operating Officer (COO) for the last five years.
"We are pleased to have attracted Stefan Genten, a proven leadership personality, to ALTANA," said Dr. Schmieder about the new CFO. "He will provide us with new impetus and we will benefit from his many years of international experience."
On January 1, 2016, Martin Babilas will take over responsibility for Corporate Development/M&A, Human Resources, Corporate Communications and Internal Audit from Dr. Wolfgruber. On that same date, Dr. Christoph Schlunken (53) will assume responsibility for Innovation Management. Dr. Schlunken became a third member of ALTANA's Management Board last November.
High-resolution portrait photos can be found in the image database on ALTANA's website: www.altana.com/press-news/picture-library.html.
About ALTANA:
ALTANA is a global leader in true specialty chemicals. The group of companies offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel/Germany, the ALTANA Group has 49 production facilities and more than 50 service and research laboratories worldwide. Throughout the Group more than 6,000 people work to ensure the worldwide success of ALTANA. In 2014, ALTANA achieved sales of about 2 billion euros. About 6 percent of sales are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.
SOURCE ALTANA
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