Solvay announces new organization of its Executive Comittee
Brussels, April 5 2019 --- As part of the managerial transition launched at the end of 2018 under the leadership of Jean-Pierre Clamadieu, the Board of Directors of Solvay announces the departure of Pascal Juéry and Cécile Tandeau de Marsac, from the Executive Committee. These changes are effective as of today.
Cécile Tandeau de Marsac has decided to leave Solvay to focus on personal projects, having led the Group’s Human Resources for the past seven years. Cécile will remain in this position until the end of June 2019. Cécile has played an important role in the key stages of Solvay’s transformation, including the integration of the Solvay and Rhodia teams, the teams from Cytec and other companies which have joined the Group.
Pascal Juéry, member of Solvay's Executive Committee since 2014, has decided to leave the group for personal reasons. He will continue to manage the planned sale of the Polyamides activities, reporting to Solvay CEO Ilham Kadri, until September 2019, when he will leave the group. As of today, Ilham Kadri will take over his other responsibilities ad interim.
“I would like to warmly thank Pascal Juéry and Cécile Tandeau de Marsac for their commitment and contribution as members of the Executive Committee to Solvay’s transformation over the past few years,” said Nicolas Boël, Chairman of the Board of Solvay.
Fresh impetus within Solvay’s Executive Committee
“As part of my review of Solvay, I’ve had the opportunity to exchange with many employees, representatives of the European Works Council, customers and investors,” said Ilham Kadri, CEO of Solvay. “Four aspects were systematically brought forward: the need for a shared vision that gives a purpose to the Group’s activities, the desire to strengthen collaboration within teams, the importance of the customer - who must inspire all of Solvay’s initiatives - and, finally, a more systematic consideration of the returns on investment.”
The members of Solvay’s Executive Committee will strive, individually and as a team, to ensure the flawless execution of the Group’s strategy in support of its customers. Following today’s announcement, Solvay’s Executive Committee consists of five members: Ilham Kadri (Chair and CEO), Karim Hajjar (CFO), Vincent De Cuyper, Augusto Di Donfrancesco and Hua Du.
Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 62 countries. Net sales were €10.3 billion in 2018, with 90% from activities where Solvay ranks among the world’s top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program. (Financial figures take into account the planned divestment of Polyamides).