Merck KGaA loses CFO to Lanxess

Merck KGaA's chief financial officer Matthia Zachert is to step down after three years to join the chemical firm Lanxess as CEO.

The move is a return to Lanxess for Zachert who was with the Cologne-based firm from 2004 to 2011, serving as chief financial officer.

He takes over from Axel Heitmann who is to step down by mutual agreement at the end of February, with Zachert's induction to take effect no later than May 15, 2014.

Lanxess' chair of the supervisory board Rolf Stomberg explained the change of senior management.

“Lanxess is facing significant challenges, for example in terms of market capacities and business portfolio,” he said. “Therefore, the supervisory board believes it is the right time to hand over responsibility to a new leadership in order to overcome these challenges.”

Merck's vice chairman Frank Stangenberg-Haverkamp expressed his “regret” at the departure of Zachert.

“We are losing a proven expert who during his three years at Merck has realigned the global finance organisation and played a significant role in our transformation programme,” Stangenberg-Haverkamp said.

“We very much regret that Matthias Zachert will leave Merck, but understand his decision in light of the attractive assignment,” he added.

Merck said its board will decided a successor in due course.