October 24, 2019 / 11:48 AM / a month ago

Henkel looking for successor to CEO - Manager Magazin

BERLIN, Oct 24 (Reuters) - German consumer goods company Henkel is looking for a successor to Chief Executive Hans Van Bylen after a string of disappointing results for the maker of Schwarzkopf shampoo, Dial soap and Persil detergent, Manager Magazin reported on Thursday.

The monthly magazine cited unnamed company sources as saying a committee that represents the interests of the founding family had started looking for candidates to replace Van Bylen, whose contract runs until the end of April 2021.

A Henkel spokesman declined to comment.

The magazine said internal candidate to take over were Jan-Dirk Auris, who runs Henkel’s adhesives business, and finance chief Carsten Knobel, although insiders said that the family would probably favour an external candidate.

Henkel cut its full-year outlook in August after posting its first fall in sales in a decade as the popularity of its beauty products waned and weaker industrial production hit its adhesives business.

Asked back then whether he had the full support of the Henkel family, Van Bylen declined to answer directly, but said: “Henkel is not in a crisis,” he told journalists. “We have a strategy that is working.”

Analysts have suggested Henkel should consider selling or spinning off its struggling beauty business but the founding family, which owns around 60 percent of the company’s voting shares, is seen as unlikely to take such a radical step. (Reporting by Emma Thomasson Editing by Alexandra Hudson)

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