Christian Kullmann, the CEO of Evonik Industries, is facing another contract renewal. His term runs until 2027, and the supervisory board will decide on an extension in the coming summer.
Bernd Tönjes, chairman of Evonik’s supervisory board, told “Handelsblatt” that “in a critical phase such as the present, stability and continuity cannot be underestimated”. He added that the current share price does not reflect Evonik’s potential, attributing the discrepancy to external constraints rather than the management’s performance.
Tönjes is also the head of the RAG Foundation, which holds 46 % of Evonik’s shares and is Germany’s wealthiest private foundation. The foundation backs the company’s new dividend policy, which will effectively reduce payouts, because it is confident that the lower dividend can be absorbed without issue. “We’ve become much more independent, diversified our portfolio, learned from a difficult market environment, and are steadily turning into a more ‘normal’ investor” he explained.
In addition to the CEO decision, the supervisory board plans to appoint a new CFO by June, a role that has been vacant since late 2025. Tönjes stressed the need for a manager who has proven resilience in crisis situations and brings extensive experience in navigating transformative periods.
