ESSEN, Germany—Evonik A.G. has named Christian Kullmann its new CEO, replacing Klaus Engel, at the end of its annual shareholders meeting on May 23.
Engel will be leaving the company at that time.
"We thank Mr. Engel for his service to the company and for his outstanding achievements," Evonik Chairman Werner Muller said in a March 1 news release. "Mr. Engel has transformed Evonik from a conglomerate to a company focused on chemicals, successfully listed it on the stock market, and developed it into a leading specialty chemicals company with outstanding prospects."
Muller cited Evonik's acquisition of Air Products' specialty additives business as one of Engel's successes, a deal that closed in May of 2016.
Evonik said Kullmann, who has spent 14 years with the firm, has worked closely with Engel for many years, eventually being appointed deputy chairman of the executive board in May 2016.
"I sincerely thank Mr. Engel for our trustful collaboration," Kullmann said in a statement. "I look forward to taking on this new role and thank the Supervisory Board for its confidence in me."
Harald Schwager will be joining Evonik on Sept. 1 as the new deputy chairman of the executive board, with responsibility for chemicals and innovation.
The firm also disclosed that Chief Operating Officer Ralph Sven Kaufmann will be leaving the company by mutual and amicable agreement on June 30, before the scheduled end of his term of office. Evonik said the COO post will not be filled.