German consumer goods group Henkel has appointed Carsten Knobel, the executive vice president finance (CFO) at the business as its new CEO, effective 1 January 2020.
Knobel suceeds Hans Van Bylen, who left the company after 35 years of service.
Henkel recently adjusted it's earnings before interest and tax margin for 2020 to 15%, down from the expected 16.2%, as a slowdown in industry demand is expected to continue for the second year in a row.
“We expect Henkel to continue to face a challenging market environment in fiscal 2020 that is difficult to predict, particularly with regard to industrial demand,” outgoing CEO Van Bylen said in December.
New CFO
The company also appointed Marco Swoboda, former corporate senior vice president of finance, to replace Knobel as CFO.
Henkel’s Dr. Simone Bagel-Trah, chairwoman of the shareholders’ committee and the supervisory board welcomed the new appointments, “We are pleased to name Carsten Knobel and Marco Swoboda as excellent internal successors to the positions of chief executive officer and chief financial officer from within our organisation and wish both much success for their tasks.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Elizabeth Schroeder. Click subscribe to sign up to ESM: European Supermarket Magazine.
