ESSEN, Germany—Evonik Industries A.G. plans to reorganize the group structure to the supervisory board, according to its executive board.
The executive board said it wants to concentrate more on Evonik's strategic development within a management holding structure.
The firm said it plans for the three operating segments—Consumer Health and Nutrition, Resource Efficiency, and Specialty materials—to become three fully functional legal entities operating as German limited liability companies with the legal status GmbH.
The executive board said this move would give the three segments greater entrepreneurial independence, more targeted management of their respective businesses, position them even closer to their markets and customers, and bring further improvement in efficiency.
The executive board also intends to operate the present Site Services unit as a German limited liability company with the involvement of the three operating segments.
Evonik said more details will be worked out throughout the course of 2014.
“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,” said Klaus Engel, chairman of Evonik's executive board. “That will increase our strategic flexibility and strengthen our leading competitive positions in the different markets.”
Evonik produces specialty chemicals and is active in more than 100 countries worldwide. It posted sales of about $17.3 billion for fiscal 2013.