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Evonik to reduce size of executive board, cut administrative costs

1:23 AM MDT | September 24, 2013 | Deepti Ramesh

Evonik Industries says that its supervisory board has unanimously passed resolutions to sharpen the group's focus on specialty chemicals and its future growth targets and to reduce the size of Evonik's executive board from six to four members. Within the executive board, operational responsibility for the entire specialty chemicals business will be transferred to Patrik Wohlhauser, effective 1 January 2014. Thomas Haeberle and Dahai Yu will leave the company via "amicable and mutual agreement," effective 31 December 2013, Evonik says. The supervisory...

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