Newly Spun Cognis Restructures


Fresh from its spin-off by Henkel, Cognis has unveiled a streamlined organizational structure aimed at increasing flexibility and speeding decision-making.

The Synlubes bio-synthetic lubricant business is now part of Cognis Functional Products group, one of five new business units. Functional Products is headed by Guido Willems, who was formerly in charge of the old Organics Specialties unit, which also included the lubricant business. The companys Oleochemicals group, which provides basic chemicals derived from natural oils and fats, is directed by Pierre Renaud.

Process Chemicals, Nutrition and Health, and Care Chemicals are the other threebusiness units in the new structure.

Although the number of business units has increased from three to five, a spokeswoman said the company eliminated 15 subdivisions. Also, the company named Antonio Trius as its new chief executive officer, replacing Harald Wulff, who is moving to the companys supervisory board. Trius, formerly executive vice president, Care Chemicals, will be preparing Cognis to go public within four or five years. He is charged with meeting ambitious goals, including to double sales and to achieve an above-average increase in earnings.

Cognis, one of the worlds largest manufacturers of chemicals based on natural oils and animal fats, was sold by Henkel in November to Permira, Goldman Sachs Capital Partners and Schroder Ventures Life Sciences for EUR 2.5 billion (U.S.$2.2 billion). The company is headquartered in Roermond, Netherlands but plans to move to Dusseldorf, Germany next month.

Related Topics

Market Topics