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Lanxess begins realignment under new CEO, raises share capital (Update)

5:05 AM MDT | May 8, 2014 | Natasha Alperowicz in Cologne

Lanxess has announced a process to realign the company, following a major downturn in some of the markets it serves. New CEO Matthias Zachert who took the helm on 1 April, says the company must become more competitive and profitable. “The focus will therefore be on the business portfolio, our business units, the efficiency of our administration and our production sites,” Zachert said. To finance the restructuring, Lanxess today completed a share capital increase announced on 7 May, through an accelerated bookbuilding process. The...

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