Evonik, a global speciality chemicals company, has announced a significant reorganisation of its management structure and business segments. The changes, set to take effect on 1 April 2025, aim to streamline operations, enhance strategic focus and position the company for long-term growth and sustainability.

New Business Segments

The company will replace its current four-division structure with two new segments: Custom Solutions and Advanced Technologies. These segments will directly report to members of the Executive Board, eliminating an entire management layer and reducing bureaucracy.

• Custom Solutions will focus on innovation-driven business models, catering to niche markets with customised solutions. This segment, employing around 7,000 people, includes additives for paints, coatings, and products for the cosmetics and pharmaceutical industries.
• Advanced Technologies will emphasise efficiency, operational excellence, and cost leadership. It employs approximately 8,000 people and includes high-performance polymers and hydrogen peroxide production.

“The Supervisory Board supports the Executive Board’s strategy and the structural development of the Group,” said Bernd Tönjes, Chairman of the Supervisory Board. “We are convinced that Evonik will be able to exploit its full potential for profitable growth with the new structure.”

The two segments collectively generate annual sales of around €6 billion each and are expected to complement each other. Custom Solutions will drive growth, contributing disproportionately to adjusted EBITDA, while Advanced Technologies will focus on generating cash flow.

Management Overhaul

Evonik is implementing a leaner management model as part of its “Evonik Tailor Made” programme. This programme will reduce costs and streamline decision-making by 2026. The number of management levels will be cut from ten to six, and over 3,000 organisational units will be eliminated.

As part of the restructuring, Lauren Kjeldsen, currently head of the Smart Materials division, will lead Custom Solutions, while Claudine Mollenkopf, head of the Specialty Additives division, will oversee Advanced Technologies. Both will join the Executive Board in April 2025.

“Our Executive Board is becoming more international and will have more women,” said Christian Kullmann, Chairman of the Executive Board. “Lauren and Claudine have been very successful leaders, and I look forward to working with them. Together, we will make Evonik better.”

Leadership Transitions

Harald Schwager, Deputy Chairman of the Executive Board since 2017, will retire at the end of the year, along with Johann-Caspar Gammelin and Joachim Dahm, two other senior executives.

Praising Schwager’s contributions, Tönjes said: “Harald Schwager has made lasting contributions to our company. This applies particularly to Research and Development, which has steadily increased its innovation power under his leadership.”

Kullmann echoed the sentiment: “For eight years, I worked very closely with Harald in an atmosphere of mutual trust. He has done a great job for our company, particularly in the areas of operational excellence and innovation.”

Thomas Wessel, Chief Human Resources Officer and Labour Director, will take on additional responsibilities, including overseeing Infrastructure and the new NextGen Technologies function, which focuses on technological sustainability.

Focus on Sustainability

Evonik is also driving its sustainability transformation forward. The company aims to increase the share of its NextGen Solutions—products with significant sustainability benefits—to over 50 percent by 2030.

“We have significantly improved the quality of our portfolio in recent years,” said Kullmann. “Our new management model takes this approach into account.”

Evonik’s restructuring is expected to create a more agile organisation, enabling the company to respond effectively to market demands while continuing its focus on innovation and sustainability.

Trelleborg Tires has extended its TM800 ProgressiveTraction tractor tyre range with the launch of two new sizes (540/65R28 and 650/65R38) for mid- to high-horsepower tractors. Four more sizes will be gradually rolled out in the coming weeks.

From light to hard soils, the TM800 ProgressiveTraction is made to produce exceptional results in a variety of agricultural terrains. By increasing operational efficiency, farming operations become more productive and economical by lowering working time per hectare, increasing tread life and improving fuel economy. Its cutting-edge ProgressiveTraction tread design greatly improves traction, which boosts field performance. Its capacity to perform well in a variety of circumstances was confirmed by testing against rival tyres, which showed up to 17 percent traction improvement on soft soil and a 10 percent boost on hard terrain.

Its optimised lug angles and shapes further improve driving comfort and stability, making the work experience smoother, safer and more pleasurable. A three percent gain over rival tyres was found in comfort testing, guaranteeing improved driving conditions throughout extended workdays. Furthermore, the TM800 ProgressiveTraction has a unique tread pattern and quality materials, which improve wear resistance by up to 18 percent when compared to competitors. Longer working hours and lower operating expenses are made possible by this improvement, which results in fewer tyre changes. Even at high speeds, the strengthened carcass guarantees excellent tyre performance and vehicle handling.

Alessio Bucci, Global Product Marketing Director, Trelleborg Tires, said, “The TM800 ProgressiveTraction exemplifies our commitment to innovation and customer-driven solutions. By integrating our award-winning ProgressiveTraction technology into one of our most iconic tyre lines, we are providing farmers with a tyre that not only redefines efficiency, comfort and durability in the field, but also meets the evolving demands of modern agriculture. Currently available in two sizes tailored for mid- to high-horsepower tractors, with four more being introduced progressively in the coming weeks, this tyre offers superior handling, enhanced fuel economy and reduced downtime, all contributing to the overall boost in productivity.”

REP and LWB have undergone common reorientation of their strategy in China, wherein REP has sold its shares of the URP joint venture to LWB but will continue to work with URP as sales and service agent for China. While LWB will further enhance its worldwide equipment profile, REP will deepen its cooperation and collaboration with Tung Yu, which has lasted for more than 20 years, the company release adds.

Bridgestone EMEA has unveiled a leadership transition, with Laurent Dartoux, Group President of Bridgestone EMEA and Vice President and Senior Officer of Bridgestone Corporation, set to retire.

Dartoux will remain in an advisory role until 31 March 2025 to ensure a seamless handover, the company said in a statement.

Effective 1 February 2025, Mete Ekin will assume the role of Group President of Bridgestone EMEA. Ekin, a nearly 30-year veteran of the tyre industry, joined Bridgestone’s Joint Global COO Office in 2023 after leading sales teams across the Middle East and Africa.

He currently serves as President of Core Tire Europe, a position he took up in 2024.

In his new role, Ekin will lead the Bridgestone EMEA Management Board and report directly to Scott Damon, CEO of Bridgestone West, which oversees operations in the Americas, Europe, Middle East and Africa.

Dartoux, who joined Bridgestone EMEA in 2014, has been credited with steering the region through the global pandemic and other significant challenges. During his tenure, the company advanced its sustainability goals, though specific details on progress were not disclosed.

"We are deeply grateful for Laurent's contributions and thoughtful leadership throughout his career at Bridgestone," said Scott Damon, CEO of Bridgestone West and Group President of Bridgestone Americas. "We extend our heartfelt thanks to Laurent for his dedication and leadership and wish him all the best in his retirement. We also look forward to Mete's leadership. His extensive experience and strategic vision make him the ideal leader to guide Bridgestone EMEA into its next chapter."

"I would like to express my sincere gratitude to Laurent for his leadership and for overcoming various important challenges in the EMEA region over the past 10 years,” said Shu Ishibashi, Global CEO of Bridgestone Corporation. “His contributions will serve as our cornerstone for growth as we enter the next chapter under Mete’s leadership.”

Mumbai-headquartered diversified, multi-product, multi-fuel company Greaves Cotton has appointed Parag Satpute as the new Managing Director (MD) and Group CEO. In his new role, he will be responsible for Greaves Engineering, Greaves Retail, Greaves Finance, Greaves Technologies and Excel Controlinkage.

Satpute an automotive industry veteran brings with him over 29 years of experience and last held the position as the President of Bridgestone’s Fleet Business in Europe within the Global Business Unit Bridgestone Mobility Solutions. Prior to that he had led Bridgestone India as the MD.

He started his career with Sandvik as a Product Manager in 1997, and by 2014, he had become MD and Chairman of the Board (subsidiaries) for India operations.

He holds a Mechanical Engineering degree from Pune University and an Executive MBA from Warwick Business School.