Lanxess says CEO to step down, Merck KGaA CFO to succeed

FRANKFURT Sun Jan 26, 2014 3:57pm EST

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FRANKFURT Jan 26 (Reuters) - German synthetic rubber maker Lanxess said on Sunday that Chief Executive Axel C. Heitmann will step down and that it would appoint Matthias Zachert, the current financial chief of Merck KGaA as his successor.

"Lanxess is facing significant challenges, for example in terms of market capacities and business portfolio. Therefore, the Supervisory Board believes it is the right time to hand over responsibility to a new leadership in order to overcome these challenges," the company said in a statement. (Reporting by Harro ten Wolde; Editing by Robin Pomeroy)

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