Solvay announces the future Executive Leadership Team for new standalone SYENSQO

Date:11-07-2023

Solvay announced the future Executive Leadership Team, effective upon completion of the planned separation of Solvay into two companies – SOLVAY and SYENSQO – which is on track to be completed in December 2023. 

Nicolas Boël, Chairman of Solvay’s Board of Directors, said, ″Solvay was built on the foundations of disruption and innovation, and today’s announcement builds on that legacy. The team at SYENSQO is  world-class, with a passion for exploring new frontiers to create the best-in-class science and technologies needed to advance humanity into the carbon transition. This powerful team combines fantastic talent from Solvay and leaders from other industries with new perspectives, ready to raise the bar in science, growth and innovation. At the same time, I trust they will embrace the values heralded by my ancestor Ernest Solvay as he mustered the brightest scientific minds of his time, to accelerate progress and seek solutions for the world’s pressing questions, commencing in 1911 with the First Solvay Conference on Physics. ″

Dr. Ilham Kadri, CEO of Solvay and incoming CEO of SYENSQO, said, ″Solvay has embraced reinvention and remained at the cutting edge of technology, always with a relentless passion for human progress and business performance. Since I joined the Company in 2019, we have taken bold steps to unleash the Group’s potential, knowing that we could make our business both sustainable and profitable while staying true to the Company’s founding mission – progress for society. Harmonious collaboration between the Executive Leadership Team and the Board of Directors made these bold steps possible - and I am deeply grateful for the bonds which Nicolas Boël and I have established as we were reinventing Solvay. Today, I am honored to continue that journey as the CEO of SYENSQO. With a high caliber team comprising individuals with decades of experience across the advanced materials and industrial sectors, SYENSQO will be at the leading edge of innovation and sustainability, partnering with our customers to explore the future of science. Together, we will develop new solutions which will solve our customers’ sustainability challenges and outperform our markets.″

Customer-driven innovation will be core to SYENSQO’s mission, with both segments – Materials and Consumer & Resources – positioned to capitalize on new opportunities to further strengthen its leading positions. SYENSQO will fuel its innovation through four growth platforms in batteries, green hydrogen, thermoplastic composites and renewable materials and biotechnology. The businesses within SYENSQO generated approximately €7.9 bn in net sales in 2022. SYENSQO’s activities are organized in Global Business Units led by world-class professionals comprising Michael Radossich (Consumer & Resources),  Peter Browning (GBU Specialty Polymers) and Rodrigo Elizondo (GBU Composite Materials). They will report directly to the CEO.

The company will operate on the basis of a multi-hub model which will reflect the balanced geographic reach of its businesses and its proximity to customers. One hub will be in North America, the company’s largest region in terms of sales. Mike Finelli is appointed Chief North America Officer in addition to his role as Chief Innovation Officer. Another hub will be Asia, where Dr. Chen Pu will be appointed Chief Asia Officer. A third hub will be Europe, where the CEO will be based.

The following individuals will serve on the Executive Leadership Team of SYENSQO:

• Dr. Ilham Kadri, Chief Executive Officer

• Christopher Davis, Chief Financial Officer

• Hervé Tiberghien, Chief Operations Officer

• Joëlle Boxus, Chief People Officer

• Marc Chollet, Chief Strategy Officer

• Mark Rollinger, General Counsel

The separation remains subject to the Extraordinary Shareholders' Meeting approval. Until the separation is complete, Dr. Ilham Kadri will remain CEO and Karim Hajjar will remain CFO of Solvay.