Management Change Solvay Realigns Structure and Responsibilities of Executive Committee
With an aim to accelerate value creation for the Solvay Group, the company has plans to simplify and realign its Executive Committee. With this new plan, members of the Executive Committee will be responsible for execution of corporate strategy and financial performance of their respective portfolios.
Brussels/Belgium – Solvay has recently announced the simplification and realignment of its Executive Committee structure and responsibilities to accelerate value creation for the Group as a whole.
The Executive Committee will be simplified and will comprise six members, once a new Chief Human Resource Officer is appointed. Members of the Executive Committee will be responsible for the execution of corporate strategy and the financial performance of the portfolio they lead, with a focus on driving return on investment and effective allocation of resources. They will also incubate and lead a number of new innovation platforms.
"Solvay's simplified and realigned leadership structure is designed to enhance strategic focus and collaboration, while enabling fast decision making. With direct financial supervision and increased accountability, members of the Executive Committee will have a closer line of sight into the businesses they oversee, allowing them to prioritise and allocate resources towards the most strategic and value enhancing areas for the Group. We are empowering each Business Unit head to deliver on their plans and accelerate innovation across the organisation for the benefit of our customers," said Ilham Kadri, CEO of Solvay and Chair of the Executive Committee.
The responsibilities of the Executive Committee are as follows:
• Augusto Di Donfrancesco will lead Specialty Polymers and Composite Materials as well as the newly launched Thermoplastic Composite Platform. This platform pools the know-how of the two GBUs to accelerate time to market.
• Hua Du will lead Novecare, Technology Solutions, Special Chem, Silica and a new GBU combining Coatis and Fibras.
• Vincent De Cuyper will lead Soda Ash, Peroxides and Aroma Performance as well as the functions Manufacturing, Supply Chain, Procurement and Global Business Services.
• Karim Hajjar will keep his responsibilities as CFO of Solvay.