Evonik announced the company is putting in place a new segment structure and adopting a significantly leaner management model. The company’s business lines, which so far have been bundled into four divisions, will now be led directly by members of its Executive Board. Going forward, the operating businesses will be managed in a significantly more differentiated manner, divided into two segments.
Evonik has progressively focused its portfolio on growth and resilience and geostrategic balance in recent years. After this extensive reorganization, the company is now taking the next step. “We have significantly improved the quality of our portfolio in recent years,” says Christian Kullmann, chairman of the Executive Board. "In our current structure, it is no longer sufficient to solely focus on the criterion of specialty chemicals to drive the company forward. Its meaning has been completely blurred and no longer sufficiently differentiates us in the eyes of our customers and the capital markets. Going forward, we will manage Evonik in a more differentiated manner by leveraging the strengths of our two pillars: solutions and innovation-driven businesses on the one hand, and technology and efficiency-driven businesses on the other. Our new management model takes this approach into account."
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