Belgium: Phosphorus Plant Solvay Completes Sale of Charleston Plant and Accelerates Succession of CEO

Editor: Alexander Stark

Solvay has completed the sale of its US facility in Charleston, South Carolina, and the phosphorus derivatives-based products made at the plant to German specialty chemicals company Lanxess. In a separate press release, the company announced that the Board of Directors was informed of Engie's decision to propose Jean-Pierre Clamadieu as its Chairman following his election as Board Member at the French company's next Shareholder meeting on May 18, 2018.

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Solvay completes the sale of its Charleston plant in the US and associated phosphorus business
Solvay completes the sale of its Charleston plant in the US and associated phosphorus business
(Source: Solvay)

Brussels/Belgium — According to the succession plan, Jean-Pierre Clamadieu will remain the Chief Executive Officer of Solvay, focused on the implementation of the Group's strategic priorities, while assuming his future non-executive position at Engie.

Nicolas Boël, Chairman of the Board of Solvay, said the the Board was now accelerating the process to identify Jean-Pierre's successor to pursue the strategy launched a few years ago. He also thanked the CEO for his commitment to facilitate a smooth transition.

Both internal and external candidates will be considered during this succession process with the objective to conclude the transition by the end of the year, the company announced.

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