Bayer MaterialScience appoints new CFO, Frank Lutz

Frank H Lutz, newly appointed CFO, Bayer MaterialScience.

LEVERKUSEN, GERMANY: Frank H Lutz has been appointed Chief Financial Officer (CFO) of Bayer MaterialScience AG effective from 1 October 2014. He succeeds Dr Axel Steiger-Bagel, who takes over on 1 November 2014 as Senior Bayer Representative for the Benelux countries, based in Diegem, near Brussels.

Lutz – like his predecessor – will be a member of the Board of Management of Bayer MaterialScience and that subgroup’s Executive Committee. He will be responsible for all finance-related matters of MaterialScience, which it is planned to float on the stock market as a separate company in 12 to 18 months’ time. His responsibilities on the Executive Committee will also include administration and services along with the Europe, Africa and Middle East regions (EMEA/EEMEA).

“Dr Steiger-Bagel has made significant contributions to MaterialScience throughout his time with us and we wish him every success in his future Bayer career. At the same time, I am delighted to welcome Frank Lutz to the Executive Committee and I am very much looking forward to working with him,” said Patrick Thomas, Chief Executive Officer, Bayer MaterialScience.

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