DSM has announced that, after 20 years on the managing board and almost 13 years as CEO, Feike Sijbesma has decided to step down from those roles and hand over the company’s leadership, as he looks to pursue other business and personal activities.
He will remain with DSM until May 1, 2020; he is set to announce his new engagements at a later date.
Geraldine Matchett and Dimitri de Vreeze will take on the role of co-CEO’s in February next year, supporting a smooth transition until May 2020, added DSM.
The company said that, in addition to focusing on business performance and financial discipline, under Sijbesma’s leadership, it repositioned itself into a successful science-based company, purpose-led and performance-driven, putting innovation and sustainability at the heart of its strategy.
After a thorough process and external benchmarking, including the advice and input from an international search firm, DSM’s supervisory board said it decided to appoint Matchett and de Vreeze as co-CEO’s, initiating a novel, dual leadership approach.
“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 the co-CEO role, Matchett will retain her responsibilities as CFO and de Vreeze his COO responsibilities.