Evonik Industries plans reorganizeGroup structure

Evonik to reorganize Group structure

7:11 AM, 28th June 2014
Evonik Industries
Evonik headquarters in Germany.

ESSEN, GERMANY: The Executive Board of Evonik Industries AG plans to reorganize the Group structure. The Executive Board wants to concentrate more on Evonik’s strategic development within a management holding structure. The plan is for the three operating segments, consumer, health & nutrition; resource efficiency; and specialty materials, to become three fully functional legal entities operating as limited liability companies.

This would give them far greater entrepreneurial independence, allowing more targeted management of their respective businesses, position them even closer to their markets and customers, and bring a further improvement in efficiency. In the future, Evonik also intends to operate the present Site Services as a limited liability company (GmbH) with the involvement of the three operating segments. Further details of the planned new corporate structure will be worked out in the course of this year.

“Through the planned reorganization of the management and portfolio structure we want to create a better basis for more differentiated management of our various businesses close to the markets and for more focused development. That will increase our strategic flexibility and strengthen our leading competitive positions in the different markets,” said Klaus Engel, Chairman of Evonik.

“Through our Administration Excellence programme last year we started to align Evonik’s administrative workflows to the demands of specialty chemicals. Our latest plans are designed to pave the way for aligning Evonik’s management model to the tougher competition in global markets,” added Engel.

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