Sector News

Novozymes’ CEO to step down as company looks to rejuvenate sales

October 16, 2019
Chemical Value Chain

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

Related News

February 19, 2020

Mondi appoints Andrew King as Group CEO

Chemical Value Chain

LinkedIn Twitter FacebookPackaging and paper group Mondi Plc. said Tuesday that Andrew King, Group Chief Financial Officer and a director of the company, will be appointed as Group Chief Executive […]

February 18, 2020

DuPont replaces CEO and CFO

Chemical Value Chain

LinkedIn Twitter FacebookDuPont said today that executive chairman Edward Breen would return to the CEO role as it removed CEO Mark Doyle and CFO Jeanmarie Desmond from their positions. Lori […]

February 14, 2020

BP sets net zero carbon target for 2050

Chemical Value Chain

LinkedIn Twitter FacebookBP’s new chief executive has set an ambitious target to shrink the oil firm’s carbon footprint to net zero by 2050 by cutting more greenhouse gas emissions every […]