OSLO—Elkem ASA CEO Michael Koenig has stepped down from his position and will leave the company immediately "to pursue other opportunities."
Elkem has started a succession process to recruit its next CEO, the Norwegian silicones manufacturer said June 30.
Helge Aasen, former CEO and current board member, will lead the company as the interim chief executive.
Koenig served in leadership positions at Elkem for nearly five years. He served as the company's chairperson from September 2016 to November 2019 before taking over as the CEO in December 2019.
"Elkem has delivered strong results and he leaves the company in a good position, with a positive market outlook for all divisions," said Hao Zhigang, chairman of the board of directors.
During his leadership, Koenig delivered Elkem's "all-time high" in operating income in the first quarter of 2021 and the best quarterly result since the third quarter 2018.
The company also has strengthened its strategy of growth and specialization in recent month, stepping up efforts in areas such as ESG, digital transformation and battery materials.