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
The total contract value is approximately €430 million. The project scope of work entails complete engineering services, equipment and material supply, installation and construction activities and, as an optional part of the scope, commissioning and start up.
Once it has implemented this project, Lenzing will have biological wastewater treatment plants that meet the best available techniques (BAT) quality standard at all its production sites.
The debate over the position of hydrogen in the new energy revolution has come to the fore again thanks to Japan’s hosting of the Olympic Games. But rather than showcasing how green this miracle new fuel is, it has highlighted its many problems.