(Boursier.com) — Solvay announces the future Executive Committee of SYENSQO, which will take office upon the effective separation of Solvay into two independent companies – SOLVAY and SYENSQO – planned for December 2023.
Nicolas Boël, Chairman of the Board of Directors of Solvay, said: “Disruption and innovation are the foundations on which Solvay was built. Today’s announcement is inspired by this heritage. The management team of the future SYENSQO is of high quality, of international level, passionate about exploring new frontiers in order to offer the scientific and technological solutions best suited to the transition to a decarbonized world. This solid team brings together exceptional talents from from Solvay as leaders from other industries, bringing new perspectives, ready to take on new scientific challenges, but also in terms of growth and innovation. I am convinced that they will perpetuate the values advocated by my ancestor Ernest Solvay when he brought together the brightest scientific minds of his time to accelerate progress and seek solutions to the world’s pressing questions, as early as 1911, with the first Solvay Physics Conference.”
Dr. Ilham Kadri, current CEO of Solvay and future CEO of SYENSQO, said: “Solvay has reinvented itself in the past while remaining at the forefront of technology, always driven by a passion for human progress and generating performance. Since I took office in 2019, we have taken bold steps to unlock the Group’s potential. We have worked to make it more sustainable and profitable, while remaining true to its founding mission, human progress. The harmonious collaboration between the Executive Committee and the Board of Directors has enabled these bold measures to be put in place – and I am deeply grateful to Nicolas Boël for the strong bonds we have formed as we reinvent Solvay. Now, I am honored to continue the journey as CEO of SYENSQO. With a high-level team, composed of talents with decades of experience in the advanced materials and industrial sectors, SYENSQO will be at the forefront of innovation and of sustainability, supporting our clients in exploring the future of science. Together, we will develop new solutions aimed at solving their challenges in terms of sustainable development, while guaranteeing performance superior to that of the market.”
“Innovation at the service of the customer will be at the heart of SYENSQO’s mission. The two business segments – ‘Materials’ and ‘Consumer & Resources’ – aim to take advantage of new opportunities to further strengthen our leadership positions. SYENSQO will grow its innovation capabilities through its four growth platforms: batteries, green hydrogen, thermoplastic composites as well as renewable materials and biotechnology. SYENSQO’s activities have generated approximately 7.9 billion euros of turnover in 2022″.
SYENSQO’s activities will be organized into Global Business Units led by high-quality professionals, namely Michael Radossich (Consumer & Resources), Peter Browning (Specialty Polymers) and Rodrigo Elizondo (Composite Materials). They will report directly to the CEO.
The company will operate under the multi-center leadership model – North America, Europe and Asia – and reflect the balanced geographic scope of its activities as well as its proximity to customers. In North America, the largest region in terms of revenue, Mike Finelli is appointed Chief North America Officer and will also take on the role of Chief Innovation Officer. In Asia, Dr. Chen Pu is appointed Chief Asia Officer, alongside his current role. The CEO will be based in the third center, Europe.
The following people will be part of the SYENSQO Executive Leadership Team:
Dr. Ilham Kadri, currently CEO and President of the Executive Committee of Solvay, will serve as Chief Executive Officer. Ilham Kadri has successfully led Solvay’s development since 2019, achieving double-digit EBITDA growth and 18 consecutive quarters of positive cash flow, reducing balance sheet leverage and driving better employee engagement. During her tenure, she established the company’s purpose; led the GROW strategy and achieved its objectives two years ahead of schedule. It launched the ‘Solvay One Planet’ sustainability program, which exceeded its CO2 emissions reduction targets set by the Paris Agreement. Ilham Kadri has extensive leadership experience across diverse sectors and across four continents, working for large industrial multinationals such as Shell, UCB, Huntsman, Dow and Sealed Air. Before joining Solvay, she was CEO and President of Diversey in the United States, where she led the company to profitability, then spun it off creating an independent entity sold to Bain Capital. She is an independent board member of AO Smith and L’Oréal.
Ilham Kadri is also active in non-profit organizations, as president of the World Business Council for Sustainable Development (WBCSD), member of the steering committee of the European Round Table of Industrialists (ERT), as well as a permanent member of the International Business Council of the World Economic Forum (WEF).
Christopher Davis, who most recently served as Chief Financial Officer and Chief Sustainability Officer at Orica Limited, will serve as Chief Financial Officer. He brings over 20 years of leadership and management experience within large, complex multinationals in the natural resources and mining, industrial and chemical sectors. Before joining Orica in 2013, Christophe Davis held several senior management positions at Anglo American PLC, including Chairman & CEO of Scaw Metals Group, CFO of Scaw Metals Group and Head of Business Analysis and Reporting at Anglo Platinum Limited. He has extensive experience in mergers and acquisitions and has overseen several large and complex financial transactions. Christophe Davis has extensive experience in improving financial performance and strengthening balance sheets. He also led the implementation of financial aspects of SAP in over 50 countries. At Orica, Christophe Davis developed and implemented a sustainability strategy and roadmap aimed at achieving carbon neutrality by 2050.
Hervé Tiberghien, who has held the position of Chief People Officer and member of Solvay’s Executive Leadership Team since 2019, will serve as Chief Operations Officer. At Solvay, he was responsible for building an inclusive culture within the organization, while focusing on individual and organizational growth. He has a strong background in both human resources and industrial operations, and previously held several operational and human resources positions within PPG Industries, including Chief Human Resources Officer and Vice President of Human Resources. His previous industry positions include Director of Industrial Coatings facilities for PPG in EMEA, as well as Quality Director and Plant Director for automotive glass manufacturing operations at AGC in Belgium.
Joëlle Boxus, previously Chief Human Resources at AkzoNobel, will serve as Chief People Officer. At AkzoNobel, she updated human resources management programs and service delivery strategies, strengthened organizational decision-making and approaches to drive company-wide growth. Before that, she was Chief Human Resources Officer at Etex, a global construction materials manufacturer, from 2018 to 2020. She also held several positions at AkzoNobel and led the human resources arm during a spin-off of the company. company, before becoming Chief Human Resources Officer of the new company (Nouryon). Joëlle Boxus also held management positions in human resources at Cargill, where she spent much of her time in Africa and Asia within the Cocoa & Chocolate division, as well as at Kraft Foods, where she played a key role in the integration of Danone’s Biscuit activities.
Marc Chollet, Chief Strategy Officer and member of the Solvay management team since 2021, will serve as Chief Strategy Officer. He played a key role in upgrading the Group’s business portfolio, leading more than 100 mergers and acquisitions operations. He joined Solvay upon the acquisition of Rhodia in 2011, where he was deputy general manager of strategy, marketing and sales since 2007 and a member of the executive committee. Prior to this, Mr. Chollet led several regional companies of the Rohm & Haas Group in the areas of agrochemicals, plastics and coating additives. Mr. Chollet began his career at Lesieur Alimentaire in the international business development department before being appointed division head, then director of international development and member of the Board of Directors of the Consumer Goods division of the Eridania Beghin group. Say.
Marc Rollinger, previously General Counsel of Stellantis, will serve as General Counsel. In office since 2013, he successfully completed the acquisition of Opel/Vauxhall by PSA in 2017 and the merger with Fiat Chrysler in 2021. Before joining Stellantis, he was legal director at Sodexo from 2009 to 2013, and at Lafarge from 2003 to 2009, in legal and development functions. He was Deputy General Counsel (Mergers and Acquisitions) at Rhodia from 2000 to 2003. Mr. Rollinger began his career at Cleary, Gottleib, Steen & Hamilton in the United States and Europe. He is a graduate of Yale (BA) and Harvard (JD) and a member of the New York Bar.
The separation remains subject to shareholder approval at the Extraordinary General Meeting. Until the separation is complete, Dr. Ilham Kadri remains CEO and Karim Hajjar will remain CFO of Solvay.