Umicore Changing Management Structure

Umicore’s board of directors recently approved several changes to its organization as well as the composition of its executive committee. The changes, which take effect immediately, are intended 'to further adapt the organization to Umicore's strategy.

The activities are now grouped into four main branches.

Catalysis will consist of automotive catalysts and precious metals chemistry. A primary business driver will be the increasing demand for emission control in automotive applications in all regions of the world.

Energy materials will consist of cobalt and specialty metals; electro-optic materials; and thin film products and fuel cells. The primary business driver is the burgeoning demand for clean energy production and storage such as rechargeable batteries and photovoltaic.

The recycling branch will consist of precious metals refining; battery recycling; jewelry and industrial metals and precious metals management. The primary business driver is resource scarcity, legislation and customer demand for closed loop services.

And performance materials, which consist of building products; electroplating; platinum engineered materials; technical materials; zinc chemicals. The sector targets the focus on achieving leadership positions through differentiated products and services, as well as to growing into new markets.

In line with the organizational changes the Umicore Executive Committee responsibilities will be as follows:

• Marc Grynberg, Chief Executive Officer.

• Denis Goffaux (new appointment), Chief Technology Officer.

• Hugo Morel, Executive Vice-President Recycling.

• Pascal Reymondet, Executive Vice-President Performance Materials.

• William Staron, Executive Vice-President Catalysis.

• Marc Van Sande, Executive Vice-President Energy Materials.

• Martine Verluyten, Chief Financial Officer.