Sector News

Umicore announces CEO succession

May 17, 2024
Energy & Chemical Value Chain

Umicore announces the appointment of Bart Sap as Chief Executive Officer, effective May 16th. He will succeed Mathias Miedreich who has decided to step down, in mutual agreement with the Supervisory Board.

Bart Sap joined Umicore in 2004 and has been the Executive Vice President Catalysis since March 2021. His nomination is in line with the company’s established succession plan. Mathias Miedreich will remain available for advice to Umicore during the next several months.

In light of slower demand growth for EV battery materials affecting the entire industry, one of Bart Sap’s main priorities will be to assess the development plans for the Umicore Battery Materials business, including capex. The first outcomes of this review will be shared during the half-year results announcement on July 26th, 2024.

“With Bart, we have a new CEO with deep experience of Umicore’s different businesses and with a track record of success. In recent years he steered the Catalysis Business Group to record results and returns on capital employed combined with a remarkable cash flow generation, and this in a challenging market context. As a leader, he has fostered an inclusive culture and with particular attention to safety performance. The Supervisory Board is confident he is the right leader for Umicore in the next phase of its development.”

Thomas Leysen, Chair of the Supervisory Board

He added: “Mathias has been a forceful and energetic leader dedicated to the development and growth of Umicore. He led Umicore through challenging times, marked by the pandemic and by great geo-political and macro-economic volatility. With his deep industry knowledge, he brought many valuable insights to Umicore. I would like to thank Mathias on behalf of the Supervisory Board for his contribution to Umicore and wish him every success in the future.”

Bart Sap was appointed Executive Vice-President Catalysis on March 1, 2021. He joined Umicore in 2004 as controller for Cobalt & Specialty Materials and, after successive assignments in Korea and Belgium covering finance, supply and refining of battery raw materials, business development and operations, he became Senior Vice-President for Cobalt & Specialty Materials and Supply at the beginning of 2020. Bart holds a Master’s Degree in Commercial Science from Vlekho in Brussels, Belgium, with majors in Accountancy and Taxation.


comments closed

Related News

June 16, 2024

Neste, Borealis and Covestro collaborating on tire-recycling projects

Energy & Chemical Value Chain

Neste Corp. (Espoo, Finland), Borealis AG (Vienna, Austria) and Covestro AG (Leverkusen, Germany) have signed a project agreement to enable the recycling of discarded tires into high-quality plastics for automotive applications. The collaboration aims at driving circularity in plastics value chains and the automotive industry.

June 16, 2024

Sika opens new manufacturing plant in northeast China

Energy & Chemical Value Chain

This site will manufacture a full range of products, including mortars, tile adhesives, and waterproofing solutions. This highly efficient new plant enables Sika to meet the market demands, whilst significantly reducing logistical distances.

June 16, 2024

Suzano to acquire Lenzing stake for €230M: How could other mergers be impacted?

Energy & Chemical Value Chain

Suzano is acquiring a 15% stake in Austrian wood-based materials producer Lenzing for €230 million (US$248 million). The announcement raises further questions over Suzano’s rumored bid to buy International Paper (IP), which, in turn, is in the process of acquiring DS Smith.

How can we help you?

We're easy to reach