COO Steven Holland will succeed Stephen Clark as CEO of Brenntag AG effective 22 June 2011
- Current COO Steven Holland has been holding leading positions at Brenntag since 2006
- William Fidler, President and CEO of Brenntag’s North American business, will join the Management Board of Brenntag AG with immediate effect
- Stephen Clark has been proposed for election to the Supervisory Board at Brenntag’s General Shareholders’ Meeting on 22 June 2011
Steven Holland, currently COO of Brenntag AG (WKN A1DAHH), the global market leader in chemical distribution, will assume his new role as CEO on 22 June 2011 following the company’s General Shareholders’ Meeting. This decision has been made by the Supervisory Board during its regular meeting today. Steven Holland joined Brenntag in 2006 following the acquisition of Albion Chemical Distribution Group where he had been CEO for the previous eight years. In addition, William Fidler, President and CEO of Brenntag’s North American business, will join the Management Board with immediate effect. In his new role, he will be responsible for Brenntag´s North and Latin American business.
"Let me start by thanking Stephen Clark on behalf of the entire Supervisory Board for his own and his team's outstanding commitment in making Brenntag the global market leader in chemical distribution and successfully taking the company public in 2010. Over the past decades, his expertise, his leadership and his passion have made the company what it is today and we are delighted that Stephen will maintain his association with Brenntag following his successful election to the Supervisory Board at the company’s General Shareholders’ Meeting", said Stefan Zuschke, Chairman of the Supervisory Board of Brenntag AG. "He now hands over responsibility for the company to Steven Holland, an experienced colleague who has been instrumental in strengthening the competitive position and the global growth strategy of the world's number one in chemical distribution since joining Brenntag five years ago."
Steven Holland has had an impressive career over the last thirty years and has a successful track record in chemical distribution. Mr. Holland, who is British, joined Brenntag following the acquisition of Albion Chemical Distribution Group in 2006 where he had been CEO for eight years prior to the acquisition by Brenntag. Mr. Holland was appointed a Board Member of Brenntag and CEO of Brenntag’s European business in 2007 before assuming additional responsibilities at group level as COO in 2009. In this role, he is responsible for managing Brenntag’s global day-to-day operations and executing the group’s growth strategy. He has been instrumental in building a global team of sector and operational experts and has expanded Brenntag’s global footprint over the past years.
"I am delighted to be given the opportunity to succeed Stephen Clark in this exciting and rewarding role. Brenntag has a strong foundation of ambitious and experienced management, passionate about the business and its future growth potential”, Holland said. “I am particularly pleased that William Fidler will be joining the Management Board as we have been working closely together over several years. He brings a wealth of experience to the group as a whole.”
During today's regular Supervisory Board meeting, William Fidler, President and CEO of Brenntag’s North American business, was appointed as a member of the Management Board with immediate effect. His Board responsibilities will include Brenntag’s North and Latin American business. Mr. Fidler brings to the Board decades of Brenntag experience in which he has accumulated deep and comprehensive industry expertise.
Both, the CEO transition and the appointment of William Fidler as a member of the Management Board are part of the systematic and long-term succession planning that has been a key success factor for Brenntag.
"It is with great confidence that I hand over the responsibility for this ambitious MDAX-company to my colleague Steven Holland. I am very pleased that I should get the opportunity to continue my association with the company as a new member of the Supervisory Board, if shareholders vote in my favour during the upcoming General Shareholders’ Meeting”, Stephen Clark said.
Stephen Clark will step down as CEO of Brenntag AG and be proposed to Brenntag AG’s planned regular General Shareholders’ Meeting on 22 June 2011 for election to the company’s Supervisory Board. Stephen Clark’s nomination is supported by Brachem Acquisition S.C.A. which is controlled by BC Partners funds and is Brenntag AG’s largest shareholder holding a 36% stake in the company.
Stephen Clark shall succeed Thomas Weinmann, one of the major shareholder’s representatives in the Supervisory Board. Brachem Acquisition S.C.A. will reduce the number of its Supervisory Board members after having significantly reduced its stake in Brenntag over the past 12 months through an IPO and two successful secondary placements.