COLOGNE, Germany—The specialty chemicals company Lanxess A.G. has extended the contract of CEO Matthias Zachert for another five years.
Zachert's extension became official May 9 following a meeting of the full supervisory board. His new term begins April 1, 2024.
"Matthias Zachert has decisively transformed Lanxess in just a few years," said Matthias Wolfgruber, chairman of the supervisory board. "A manufacturer of commodities has become a true specialty chemicals company. This new focus offers great opportunities for Lanxess' continued economic success.
"The supervisory board is convinced that Matthias Zachert is the right man to fully exploit this potential and continue to drive the group forward in the coming years."
Zachert has served as chairman of the board of management of Lanxess since April 1, 2014. He worked as the group's CFO from 2004 to 2011 and was essential in restructuring the Lanxess portfolio of chemical offerings.
From 2011 to 2014, he worked as CFO for Merck KGaA before rejoining Lanxess.