Brenntag announces Decision of its CEO not to renew his current Contract

Global chemical distributor Brenntag AG (Essen, Germany) yesterday published in an ad-hoc message that the current Chief Eexecutive Officer, Steven Holland, has informed the Chairman of the Supervisory Board that he has decided he will retire after nine years as CEO when his current contract ends in February 2020. 

Although, he will not be available for an extension of his contract, he remains fully committed throughout the transition period, Brenntag said in the statement. Stefan Zuschke, Chairman of the Supervisory Board, pointed  out “the significant contribution by Steven Holland in Brenntag’s journey from private to public ownership and its expansion into a truly global chemical distribution company and market leader.” He also thanked him on behalf of the whole Supervisory Board for his services to the company, which Holland first joined when Brenntag acquired Albion Chemicals Group Ltd.  in 2006. Back in 2001 he had co-led the MBO of the Leeds based company, then trading as Hays Chemicals, from Hays plc, and was the Managing Director at the time.

A decision on succession will be made by the Supervisory Board based on a structured selection process, Brenntag said.

Source: Brenntag press release; DistriConsult analysis

HGE – DCG / 07.03.2019