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Royal DSM announces CEO succession

Source:Plastics News Asia

Date Published:12/2/2019 10:12:43 PM

Royal DSM CEO Feike Sijbesma will hand over his responsibilities to Geraldine Matchett and Dimitri de Vreeze in February 2020    
The Supervisory Board of Royal DSM announces that after 20 years on the Managing Board and almost 13 years as CEO, Feike Sijbesma has decided to step down as CEO and hand over the company’s leadership, as he seeks to pursue other business and personal roles. Mr. Sijbesma will formally hand over his responsibilities as CEO on February 15, 2020 to his successors, Geraldine Matchett and Dimitri de Vreeze, and will remain employed by DSM securing a further smooth transition in the coming five months, until May 1, 2020.  
 
Under the leadership of Mr. Sijbesma, DSM has gone through a significant transformation, from bulk chemicals company into one which focuses on Nutrition, Health and Sustainable Living, generating Total Shareholders Return of about 400%. Over more than a decade DSM has significantly expanded its nutrition business, divested its non-core bulk chemical activities, and upgraded the materials portfolio. In addition to focusing on business performance and financial discipline, under Mr. Feike’s leadership, DSM repositioned itself into the successful science-based company that it is today: purpose-led and performance-driven, putting innovation and sustainability at the heart of the company and its strategy.  
 
DSM Managing Board
Ms. Geraldine Matchett, Mr. Feike Sijbesma and Mr.  Dimitri de Vreeze
 
 
After a thorough process and external benchmarking, including the advice and input from an international search firm, the Supervisory Board has decided to appoint both Geraldine Matchett and Dimitri de Vreeze, the two Managing Board colleagues of Mr. Sijbesma, in a dual leadership as Co-CEO’s. Together they will maintain the focus on business performance, financial discipline, innovation, sustainability, and people, as DSM continues its journey. This dual leadership structure is rooted in the long history of collaboration between them, which has been keenly observed by the Supervisory Board and is expected to create a strong basis for continued profitable growth. In conjunction with their Co-CEO role, Ms. Matchett will retain her responsibilities as CFO and Mr. de Vreeze will hold the COO responsibilities. 
 
As Co-CEO’s, Ms. Matchett will focus on financial management and capital markets communication, capital allocation, talent and culture development, as well as digital strategy and new ways of working. Dimitri will focus on operational delivery, SHE, customer centricity, driving growth and efficiency as well as innovation and R&D programs. Jointly they will be accountable for the performance of the company and will drive the purpose led, performance driven strategy and M&A agenda.
 
To facilitate a smooth transfer and continuity to the new Co-CEO leadership structure, the Supervisory Board will ask the shareholders at the AGM in May 2020 to re-appoint Chairman Rob Routs for a final two years term.

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