Solvay announces the future Executive Leadership Team for new standalone SYENSQO
03 November 2023 - 5:01PM
Solvay announces the future Executive Leadership Team for new
standalone SYENSQO
Press releaseRegulated
informationInside information
Solvay announces the future Executive Leadership Team for new
standalone SYENSQO
- World-class Executive
Leadership Team brings decades of global experience in advanced
materials and various industrial sectors, with innovative vision to
outgrow the market and deliver superior returns
- Appointments effective upon
completion of planned separation
Brussels, November 3, 2023
Solvay today announced the future Executive Leadership Team,
effective upon completion of the planned separation of Solvay into
two companies – SOLVAY and SYENSQO – which is on track to be
completed in December 2023.
Nicolas Boël, Chairman of Solvay’s Board of Directors, said,
“Solvay was built on the foundations of disruption and innovation,
and today’s announcement builds on that legacy. The team at SYENSQO
is world-class, with a passion for exploring new frontiers to
create the best-in-class science and technologies needed to advance
humanity into the carbon transition. This powerful team combines
fantastic talent from Solvay and leaders from other industries with
new perspectives, ready to raise the bar in science, growth and
innovation. At the same time, I trust they will embrace the values
heralded by my ancestor Ernest Solvay as he mustered the brightest
scientific minds of his time, to accelerate progress and seek
solutions for the world’s pressing questions, commencing in 1911
with the First Solvay Conference on Physics. ”
Dr. Ilham Kadri, CEO of Solvay and incoming CEO of SYENSQO,
said, “Solvay has embraced reinvention and remained at the cutting
edge of technology, always with a relentless passion for human
progress and business performance. Since I joined the Company in
2019, we have taken bold steps to unleash the Group’s potential,
knowing that we could make our business both sustainable and
profitable while staying true to the Company’s founding mission –
progress for society. Harmonious collaboration between the
Executive Leadership Team and the Board of Directors made these
bold steps possible - and I am deeply grateful for the bonds which
Nicolas Boël and I have established as we were reinventing Solvay.
Today, I am honored to continue that journey as the CEO of SYENSQO.
With a high caliber team comprising individuals with decades of
experience across the advanced materials and industrial sectors,
SYENSQO will be at the leading edge of innovation and
sustainability, partnering with our customers to explore the future
of science. Together, we will develop new solutions which will
solve our customers’ sustainability challenges and outperform our
markets.”
Customer-driven innovation will be core to SYENSQO’s mission,
with both segments – Materials and Consumer & Resources –
positioned to capitalize on new opportunities to further strengthen
its leading positions. SYENSQO will fuel its innovation through
four growth platforms in batteries, green hydrogen, thermoplastic
composites and renewable materials and biotechnology. The
businesses within SYENSQO generated approximately €7.9 bn in net
sales in 2022. SYENSQO’s activities are organized in Global
Business Units led by world-class professionals comprising Michael
Radossich (Consumer & Resources), Peter Browning (GBU
Specialty Polymers) and Rodrigo Elizondo (GBU Composite
Materials). They will report directly to the CEO.
The company will operate on the basis of a multi-hub model which
will reflect the balanced geographic reach of its businesses and
its proximity to customers. One hub will be in North America, the
company’s largest region in terms of sales. Mike Finelli is
appointed Chief North America Officer in addition to his role as
Chief Innovation Officer. Another hub will be Asia, where Dr. Chen
Pu will be appointed Chief Asia Officer. A third hub will be
Europe, where the CEO will be based.
The following individuals will serve on the Executive Leadership
Team of SYENSQO:
- Dr. Ilham Kadri ,
currently CEO and President of the Executive Committee at Solvay,
will serve as Chief Executive Officer. Dr. Kadri has successfully
led the turnaround of Solvay since 2019, delivering double-digit
EBITDA growth and 18 consecutive quarters of positive free cash
flow, deleveraging the balance sheet and promoting superior people
engagement. During her tenure she established the company Purpose;
drove the Group’s G.R.O.W. strategy and fulfilled its economic
objectives two years ahead of schedule. She led the holistic Solvay
One Planet sustainability program, which outperformed the CO2
reduction objectives set by the Paris Agreement. Ms. Kadri has
extensive leadership experience across a variety of industries on
four continents and with leading industrial multinationals,
including Shell, UCB, Huntsman, Dow and Sealed Air. Prior to
Solvay, she was CEO and President of Diversey in the United States
of America, having led the company’s return to profitability, and
subsequent spin off and divestiture to Bain Capital. She is an
independent Board member at A.O. Smith and L’Oréal.Ms. Kadri is
active in non-profit organizations, as Chair of the World Business
Council for Sustainable Development (WBCSD), member of the steering
committee of the European Round Table of Industrialists (ERT) as
well as a permanent member of the World Economic Forum’s
International Business Council (WEF).
- Christopher Davis, who
most recently served as Chief Financial Officer and Chief
Sustainability Officer at Orica Limited, will serve as Chief
Financial Officer. He brings over 20 years of leadership and
management experience within large complex multinational
organizations in the natural resources & mining, industrial and
chemicals sectors. Prior to joining Orica in 2013, Mr. Davis served
in multiple leadership roles at Anglo American PLC, including
Chairman & CEO of the Scaw Metals Group, CFO of Scaw Metals
Group and Head of Business Analysis and Reporting of Anglo Platinum
Limited. He has extensive M&A experience and has overseen a
number of large, complex financial transactions. Mr. Davis has a
track record of improving financial performance and strengthening
balance sheets. He has also led the successful implementation of
financial aspects of SAP across 50+ countries. At Orica, Mr. Davis
developed and executed on a ‘net zero by 2050’ sustainability
strategy and roadmap.
- Hervé Tiberghien, who has
served as Chief People Officer and member of the Executive
Leadership Team at Solvay since 2019, will serve as Chief
Operations Officer. At Solvay, he has been responsible for building
an inclusive culture across the organization, while focusing on
driving individual and organizational growth. He has a strong
background in both HR and industrial operations, and previously
served in a number of operational and HR roles at PPG Industries,
including Chief Human Resources Officer and Vice President of Human
Resources. His previous industrial positions include Director of
Industrial Coatings facilities at PPG and EMEA, as well as Quality
Director and Plant Director for automotive glass manufacturing
operations at AGC in Belgium.
- Joëlle Boxus, previously
Chief Human Resources at AkzoNobel, will serve as Chief People
Officer. At AkzoNobel, she updated the Human Capital programs and
service delivery strategies and enhanced organizational
decision-making and approaches for securing growth on a
business-wide scale. Prior to that, she served as Chief Human
Resources Officer of Etex, a global manufacturer of building
materials, from 2018 to 2020. Before that, she held several roles
at AkzoNobel, and led the HR stream during a spin-off before
becoming Chief Human Resources Officer for the newly standalone
company (Nouryon). Mrs. Boxus has also held senior HR
positions at Cargill where she spent a large portion of her time in
Africa and Asia for their Cocoa & Chocolate business as well as
for Kraft Foods where she played a key role in the integration of
the Biscuit activities of Danone.
- Marc Chollet, who has
served as Chief Strategy Officer and a member of the Executive
Leadership Team at Solvay since 2021, will serve as Chief Strategy
Officer. He was instrumental in upgrading the Group’s business
portfolio, driving more than 100 transformational M&A
transactions. He joined Solvay through its acquisition of Rhodia in
2011, where he had served as Deputy General Manager of Strategy,
Marketing and Sales since 2007 and a member of the Executive
Committee. Prior to that, Mr. Chollet led several regional
businesses at the Rohm & Haas Group in Agrochemicals, Plastic
and Coating additives. Mr. Chollet began his career at Lesieur
Alimentaire in the international business development department
before being appointed as head of the division and later as
Director of International Development and member of the Board of
Management of the Consumer Goods division of the Group Eridania
Beghin-Say.
- Mark Rollinger, previously
Chief Legal Officer at Stellantis, will serve as General Counsel.
In his former role since 2013, he completed the 2017 acquisition by
PSA of Opel/Vauxhall and the 2021 merger with Fiat Chrysler. Prior
to Stellantis, he served as Chief Legal Officer at Sodexo from 2009
to 2013, and at Lafarge from 2003 to 2009, in both legal and
development roles. He was Deputy General Counsel (M&A) at
Rhodia from 2000 to 2003. Mr. Rollinger began his career at Cleary,
Gottleib, Steen & Hamilton in both the U.S. and European
offices. He is a graduate of Yale (B.A.) and Harvard (J.D.) and a
member of the New York Bar.
The separation remains subject to the
Extraordinary Shareholders' Meeting approval. Until the separation
is complete, Dr. Ilham Kadri will remain CEO and Karim Hajjar will
remain CFO of Solvay.
- Solvay announces the future Executive Leadership Team for new
standalone SYENSQO
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