Degussa

Degussa unexpectedly parted company with CEO Christian Rauch and CFO Mark Sommer; the company has so far not commented on the reasons. Industry insiders point to missed targets in back-end digitalisation and a too-slow pace of expansion as possible triggers. The new owner, August François von Finck, is said to have increased the pressure, possibly to prepare Degussa for a sale. The personnel changes fit into a series of abruptly ended management roles at Degussa. » More on handelsblatt.com

The precious-metals dealer Degussa has dismissed CEO Christian Rauch and CFO Mark Sommer with immediate effect; the company gives no reasons. Alexander Betz will be the new CEO, Tino Porzel will take over the finance portfolio on an interim basis, and a search has begun for a permanent CFO and a chief revenue officer. Owner August François von Finck praises the current setup, but the industry is puzzled by the sudden leadership change despite strong business figures. » More on handelsblatt.com

Degussa has unexpectedly replaced its entire executive team: CEO Christian Rauch and CFO Mark Sommer have left the company with immediate effect. Alexander Betz, who until now served as Chief Digitalisation Officer at Patrizia, will become the new CEO. Board member Tino Porzel will temporarily take on the CFO role; a permanent successor and a Chief Revenue Officer are to be sought. The company did not give reasons for the sudden change. » More on handelsblatt.com