Enzymes maker Novozymes, which has repeatedly cut its 2019 sales outlook, said on Tuesday that its chief executive Peder Holk Nielsen would step down early next year as it was time to “bring in new leadership”.
“Novozymes has been challenged in recent years and needs to deliver higher revenue growth,” it said in a statement.
The Danish firm, which among other things has been struggling with a weak U.S. ethanol production after floods in the Midwest this year, said it expected to announce a new CEO within a short period of time.
Shares in the company rose almost 4% in early trade.
By Stine Jacobsen
Source: Reuters
The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.
Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.
At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.
