German chemicals manufacturer Evonik has extended the contract of chief executive officer Christian Kullmann until 2030 following an extraordinary general meeting.
The company’s supervisory board also appointed Michael Rauch as its new chief financial officer, effective 1 May.
Kullmann has been with Evonik since 2003 and was appointed chief strategy officer in 2014; he has been heading its management board since May 2017.
“Christian Kullmann stands for stability and continuity in challenging times,” said supervisory board chairman Bernd Tönjes.
“He has steered Evonik through difficult waters in recent years. The supervisory board is counting on the Executive Board to keep the course and continue to make Evonik fit for the future,” he added.
Rauch, meanwhile, will join from Swiss vending machine operator Selecta, where is currently interim CEO.
He knows the chemical industry from his 16 years at Henkel, the German maker of adhesives, sealants and coatings, where he held various strategy and finance positions in Germany, Sweden and China.
“In Michael Rauch, Evonik has found a CFO who has a great deal of experience with transformation,” said Tönjes.
"We are convinced that he combines the best qualities overall to make Evonik even more weatherproof in a volatile market environment through resilient financial management,” he added.
