Arkema, the French company specializing in adhesives and coating solutions for industry, has announced that Thierry Le Henaff will continue as CEO and chairman for another four years. Le Henaff, who has been at the helm of the company since it listed in Paris 17 years ago, will have his renewal proposed at the next annual general meeting in May 2024.
The decision to extend Le Henaff's term is based on the Board of Directors' confidence in his ability to lead the company's development in innovative materials for a sustainable world. This aligns with the roadmap presented to investors during the Capital Markets Day.
During the September capital markets day, Arkema outlined its plan to achieve sales of approximately 12 billion euros ($12.85 billion) by 2028, along with a target margin of earnings before interest, taxes, depreciation, and amortization of around 18%. However, this year's sales are expected to be lower at around EUR 9.7 billion, according to analysts' estimates. In the third quarter, sales declined by 17% at constant currency to EUR 2.33 billion, largely due to weak demand from the industry.
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