The Supervisory Board of LANXESS AG has resolved at its meeting today to end, by mutual agreement, the appointment of Axel C. Heitmann as Member and Chairman of the Board of Management of LANXESS AG, effective the end of February 28, 2014.

The Supervisory Board has appointed as his successor Matthias Zachert, former Chief Financial Officer of LANXESS and currently Chief Financial Officer at Merck KGaA, effective not later than May 15, 2014.

Until Mr. Zachert joins the Board of Management, LANXESS Chief Financial Officer Bernhard Duettmann will perform the responsibilities of the previous Chairman of the Board of Management.

“Mr. Heitmann has played a key role in shaping the company since its creation through consistent restructuring and strategic portfolio measures. He has formed LANXESS into a leading global specialty chemicals company, achieving many noticeable successes,” said Rolf Stomberg, Chairman of the Supervisory Board of LANXESS AG. “The Supervisory Board expresses its sincere gratitude and high regard for Mr. Heitmann, also on behalf of all employees.”

“LANXESS is facing significant challenges, for example in terms of market capacities and business portfolio. Therefore, the Supervisory Board believes it is the right time to hand over responsibility to a new leadership in order to overcome these challenges,” said Stomberg. “Mr. Zachert performed excellent work as Chief Financial Officer at LANXESS and has an outstanding reputation among employees as well as in the capital market.”