MALMO, Sweden—Hexpol A.B. Chairman Melker Schorling will step down from his position in 2017, the company said on Oct. 24.
In a separate announcement, the firm reported flat third quarter results despite higher volumes. Sales dropped to about $301.4 million compared to $304.7 million in 2015. Hexpol said sales were negatively affected by lower sales prices because of considerably lower raw material prices.
CEO Georg Brunstam added in a statement that price-pressure had continued in all markets.
Schorling will formally resign as chairman on April 28 and continue as a support and adviser to the company's management and board.
Hexpol said that its nomination committee will come back with proposal of new chairman in the next couple of months.