Solvay announces executive teams of spinoff companies

Brussels – Solvay SA has announced the executive teams of Solvay and Syensqo - two new companies to be formed upon splitting up of the Belgian group by December.

Existing CEO Dr Ilham Kadri will take over as the chief executive of Syensqo, which will focus on specialities, including high-performance polymers, materials and consumer products.

Philippe Kehren has been appointed as the CEO of ‘new Solvay’, which will include tire silica production as well as essential solutions in housing, health, nutrition and mobility, Solvay announced 3 Nov.

Kehren currently serves as the president and head of sustainability of the ‘Soda Ash & Derivatives’ global business unit at Solvay, and has over 30 years of cross-functional experience in management roles.

“This is a pivotal moment for Solvay as we prepare to launch two champions led by two outstanding teams,” said Nicolas Boel, chairman of Solvay’s board of directors.

Selected following “a rigorous search”, the teams include “a talented group at the top of their fields who will advance our new companies and unleash value for shareholders,” he added.

Following the separation, the new Solvay will focus its strategy on "enhancing process expertise and cost leadership to maximise cash generation”.

It will comprise mono-technology businesses including soda ash, peroxides, silica, coating and elastomer chemicals, which generated €5.6 billion in sales in 2022.

The company’s activities will be organised by ‘global business units’ including Peroxides to be led by Carlos Silveira; Silica & Special Chem by An Nuyttens and Coatis by Daniela Manique.

Etienne Galan will take over the Soda Ash & Derivatives after the spinoff.

Current finance director of ‘Soda Ash & Derivatives’ Alexandre Blum will take over as Solvay’s chief financial officer following the separation, while Lanny Duvall, former chief operating officer at German chemicals supplier Heubach, will serve as COO.

Dr Mark van Bijsterveld will take up the role of ‘chief people officer’ at new Solvay with current executive business leader Lisa Brown serving as general counsel.