Sector News

Lonza CEO to leave chemicals maker after less than a year

November 12, 2019
Chemical Value Chain

Lonza Chief Executive Marc Funk is leaving the Swiss chemicals company after less a year in the job, it said on Tuesday, citing personal reasons.

Funk, who has held his post since March, will be replaced by Chairman Albert Baehny on an interim basis until a permanent replacement is found. Funk will stay with the company until January 2020, Lonza said.

Before becoming CEO, Funk was head of Lonza’s Pharma & Biotech segment where he expanded capacity and was responsible for innovation in biopharma manufacturing.

Lonza reported a steep fall in first-half profit as it took losses linked to the sale of its water business and as difficulties at its speciality ingredients business continued.

The Basel-based company, whose products include viruses for gene therapies, on Tuesday said board member Christoph Maeder has been appointed lead independent director by the board.

“The board respects Marc’s decision and would like to thank him for his service to Lonza and wish him well for his future endeavours,” said Maeder, adding a search for a new CEO was under way.

By John Revill

Source: Reuters

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

January 16, 2021

INEOS reduces planned Antwerp investment

Chemical Value Chain

LinkedIn Twitter Xing EmailINEOS has postponed work on the propane dehydrogenation (PDH) unit at its Antwerp, Belgium site, opting to prioritise construction of the cracker, a company spokesperson said on […]

January 10, 2021

TechnipFMC resumes plans to split company

Chemical Value Chain

TechnipFMC says it has resumed activities related to the previous announced separation of the company into two separate pure-play businesses, TechnipFMC and Technip Energies.

January 10, 2021

Solvay’s extended maternity, paternity & co-parent policy goes into effect

Chemical Value Chain

Solvay’s new policy increases maternity leave to 16 weeks. It is now available to any co-parent regardless of gender or sexual orientation; it also includes parents who adopt. The parent employed by Solvay will receive 100% of his or her salary during this leave period.

Send this to a friend