LANXESS: Dr. Bernhard Düttmann to become Chief Financial Officer

The Supervisory Board of LANXESS AG agreed at its extraordinary meeting today to revoke the contract of Matthias Zachert (43), Member of the Board of Management and Chief Financial Officer, as of March 31, 2011. Zachert had requested the Board to do so accordingly. In his current function, he has been a Member of the Board of Management since 2004.

Dr. Rolf Stomberg, Head of the LANXESS AG Supervisory Board: "We greatly regret the decision of Mr. Zachert to end his work here at LANXESS to address a new challenge. In the last seven years at LANXESS, Mr. Zachert has significantly contributed to the successful development of the company. He not only established the global finance organization but also played a key part in the restructuring of the portfolio and repositioning of LANXESS. He was highly recognized within the company as well as by the financial community and decisively strengthened the standing of the company with the rating agencies and equity markets. The Supervisory Board would like to thank Mr. Zachert for his extraordinary achievements and wishes him all the best for his future career.”

LANXESS Chairman of the Board of Management Dr. Axel C. Heitmann: "My fellow Members of the Board and I deeply regret the decision of Matthias Zachert and would like to thank him for his long and successful work at LANXESS. He has provided a great service to the company and significantly contributed to the financial performance over the last years as well the current financial strength of the Group.”

Dr. Bernhard Düttmann (51), previously Member of the Board of Management and Chief Financial Officer of Beiersdorf AG, Hamburg, has been appointed Member of the Board of Management and Chief Financial Officer of LANXESS AG as of April 1, 2011. The Supervisory Board is pleased to have gained an experienced Chief Financial Officer of a recognized company for the CFO role at LANXESS AG and would like to wish him success in his new position.”

Dr. Heitmann: "We are looking forward to welcoming Dr. Düttmann as a new Member of our Board of Management of LANXESS AG as of April. He does not only distinguish himself by his many years of experience but is also very familiar with the important growth regions of Latin America and Asia.”