Volume 92 Issue 5 | p. 5 | News of The Week
Issue Date: February 3, 2014 | Web Date: January 31, 2014

Lanxess Drops CEO As Profits Fall

Leadership: Management change may precede restructuring and cost cutting
Department: Business
Keywords: leader, restructure, financial, Lanxess

Axel C. Heitmann, the head of the German chemical maker Lanxess from the day it was created almost 10 years ago, will leave the firm at the end of this month. His surprise departure follows a recent decline in profits after a long period of growth.

Lanxess was formed in 2004 when Bayer spun off what it saw as undesirable businesses in plastics, rubber, and specialty chemicals. From sales of about $8.5 . . .

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