MOVES: German Merck confirms Kuhnert to be CFO on 1 August

09 May 2014 18:32 Source:ICIS News

LONDON (ICIS)--Marcus Kuhnert will take over as the new chief financial officer (CFO) of Germany-based specialty chemicals and pharmaceuticals firm Merck KGaA, effective on 1 August, the Darmstadt-based company confirmed on Friday.

Merck earlier this week reported the CFO appointment but at the time did not say when exactly it would take effect.

Until 1 August, Merck CEO Karl-Ludwig Kley will act as interim-CFO, a company spokesman said. Before becoming Merck's CEO in 2007, Kley was CFO of Lufthansa.

Kuhnert joins Merck from detergents and adhesives major Henkel, where since 2010 he has been CFO of the laundry and home care division. He succeeds Matthias Zachert who left Merck to take over as CEO of rubber and specialty chemicals firm LANXESS.

The spokesman told ICIS that as of 1 August Kuhnert will also become a member of Merck's executive board "with unlimited personal liability". The personal liability of Merck executive board members has its roots in the company's corporate structure as a "Kommanditgesellschaft auf Aktien", or KGaA, under German company law, he added.

In related news, Merck said earlier on Friday that the incoming CEO of German chemicals engineering and industrial gases group Linde, Wolfgang Buchele, has been elected chairman of Merck’s supervisory board.

By Stefan Baumgarten