Published by Global Banking & Finance Review®
Posted on September 18, 2025
2 min readLast updated: January 21, 2026
Add as preferred source on GoogleEvonik's CFO Maike Schuh resigns, causing a 2.5% drop in shares. CEO Christian Kullmann will manage finances temporarily as the company faces industry challenges.
By Anastasiia Kozlova
(Reuters) - German chemicals group Evonik Industries on Thursday announced its Chief Financial Officer Maike Schuh would be leaving the company at her own request.
"This appears a sudden resignation," analysts from Jefferies said in a note.
Shares of Evonik dropped 2.5% following the news.
Evonik CEO Christian Kullmann will temporarily assume responsibility for the finance department at the executive board level, while Claus Rettig will take over Schuh's operational duties until a successor is appointed.
The changes are effective immediately.
Schuh, who has been with Evonik for 10 years, joined the executive board in April 2023.
Germany's chemical industry, its third-largest sector, is grappling with weak demand, a sluggish economy and U.S. tariffs. Industry sentiment has soured, with chemical lobby VCI reporting the lowest capacity utilization in over 30 years during Q2, as sales and prices fell amid growing uncertainty.
In response, Evonik has launched its most ambitious restructuring to date, aiming to streamline operations and cut costs. The plan could reduce its workforce by more than 20%, reflecting a broader industry shift as companies adapt to a rapidly evolving global landscape.
(Reporting by Anastasiia Kozlova in Gdansk, Editing by Miranda Murray and Lisa Shumaker)
Maike Schuh is the Chief Financial Officer of Evonik Industries who announced her resignation at her own request.
Following the news of the resignation, shares of Evonik dropped by 2.5%.
Evonik CEO Christian Kullmann will temporarily assume responsibility for the finance department at the executive board level.
Germany's chemical industry is grappling with weak demand, a sluggish economy, and U.S. tariffs, leading to a sour industry sentiment.
Evonik has launched its most ambitious restructuring to date, aiming to streamline operations and potentially reduce its workforce by more than 20%.
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