Linde resume merger talks with Praxair; CEO resigns

Linde to resume merger talks with Praxair; CEO resigns

6:26 AM, 8th December 2016
Dr Wolfgang Buchele, chief executive officer (CEO) of Linde resigns, effective immediately.
Dr Wolfgang Buchele, chief executive officer (CEO) of Linde resigns, effective immediately.

MUNICH, GERMANY: Linde AG and Praxair Inc has decided to resume talks over the essential terms of a potential merger of equals between the two companies. All members of the Supervisory Board support resuming the talks.

Simultaneously Dr Wolfgang Buchele, chief executive officer (CEO) of Linde, has offered to the supervisory board that he resigns, effective immediately. Thus, continuity for the forthcoming discussions is ensured.

The board has accepted this request and appointed professor Dr Aldo Belloni to succeed him as CEO. Belloni, who served on the executive board of Linde from 2000 to 2014, will take up the office. His appointment runs through the end of 2018.

“With the resumption of the talks, a successful merger is now drawing near. I have already set a course for my own future and with this step, I am acting in the best interest of the company. I am very pleased that, with the resumption of the merger talks, Linde’s leading global role is close at hand,” said Dr Wolfgang Buchele.

“I would like to thank Wolfgang Buchele for everything he has contributed to our company and for his trusting working partnership.  He took on the role of CEO in economically and structurally challenging times. We are therefore all the more thankful for his introduction of initiatives to secure and extend Linde’s leading role in the global marketplace,” added Dr Wolfgang Reitzle, chairman of the supervisory board of Linde.

© Worldofchemicals News

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