December 2, 2019 / 11:59 AM / 2 months ago

DSM hopes to get the chemistry right with joint CEOs

AMSTERDAM, Dec 2 (Reuters) - Dutch speciality chemicals maker DSM said on Monday its chief executive of nearly 13 years would step down on Feb. 15 and be replaced by two top managers who will share the role.

DSM said Feike Sijbesma was leaving to “pursue other business and personal roles.” He will be replaced by Geraldine Matchett and Dimitri de Vreeze.

Matchett will retain her responsibilities as chief financial officer, while De Vreeze will keep his chief operations officer tasks.

“This dual leadership structure is rooted in the long history of collaboration between them, which has been keenly observed by the supervisory board and is expected to create a strong basis for continued profitable growth,” DSM said in a statement.

Sijbesma, who will announce his new job at a later stage, will remain at DSM until May 1 to ensure a smooth management transition, it said.

DSM said that under Sijbesma’s leadership the company had significantly expanded its nutrition business, divested its bulk chemical activities, and upgraded its materials portfolio. (Reporting by Anthony Deutsch; Editing by Mark Potter)

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