DSM-Firmenich’s board of directors has proposed Richard Ridinger to be its new chairman following the decision of incumbent Thomas Leysen to retire.

Ridinger, an existing DSM-Firmenich director and chairman of speciality ingredient distributor Brenntag, is set to take over after shareholders vote on his appointment at an extraordinary general meeting on 19 October.

“Richard Ridinger brings extensive executive and board-level experience in global, innovation-led businesses across Pharma, Home & Personal Care and Nutrition & Health,” the company said.

“He has a deep understanding of the company, which positions him well to succeed Thomas and will provide continuity to execute the strategy and create long-term value for shareholders and other stakeholders,” it added.

Leysen will step down from his role as director and chair once his successor has been elected by the shareholders, allowing him to devote more time to his other corporate and non-profit mandates.

Leysen said: "With DSM-Firmenich now fully operating as one company, the portfolio tuning nearing completion with the closing of the Animal Nutrition & Health sale foreseen later this year, the executive committee rejuvenated and the margin improvement programme well underway, it is an opportune moment to hand over to a new chair.

“Richard has all the requisite experience to help bring DSM-Firmenich to the next level. It has been a pleasure and an honour to chair the board during the formative stages of this unique company.”

Ridinger, a German national, added: “DSM-Firmenich has come a long way in recent years and today stands on a strong foundation for the future.

“I am deeply honoured by the board’s trust, and I look forward to shaping the company’s next chapter together with the board and the executive committee.”

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Source: Personal Care Magazine (https://www.personalcaremagazine.com/)

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