Why is Evonik Extending Christian Kullman’s CEO Contract?

Evonik has secured its leadership continuity through 2030, extending CEO Christian Kullmann's contract and appointing Michael Rauch as CFO in a dual move designed to strengthen the company's strategic position and financial resilience during a period of market volatility.

The decisions, made unanimously by the company's Supervisory Board on 17 April 2025, reflect Evonik's commitment to maintaining steady leadership while bringing in fresh expertise to navigate ongoing transformation challenges.

The Supervisory Board will officially extend Kullmann's contract at the company's Annual General Meeting on 3 June 2025.

Kullmann joined Evonik in 2003 and progressed through the organisation, serving as Chief Strategy Officer from 2014 before assuming his current role as CEO and head of the Management Board in May 2017.

Since September 2025, he has also been performing CFO duties on an interim basis.

Bernd Tönjes, Supervisory Board Chairman, said in a company statement: "Christian Kullmann stands for stability and continuity in challenging times.

He has steered Evonik through difficult waters in recent years. The supervisory board is counting on the Executive Board to keep the course and continue to make Evonik fit for the future."

Strategic leadership in volatile markets

The leadership appointments could signal Evonik's focus on balancing operational stability with financial agility as the company works to enhance its market position.

Rauch's appointment appears particularly significant given his track record in transformation initiatives and experience navigating complex market conditions.

Tönjes added in a company statement: "In Michael Rauch, Evonik has found a CFO who has a great deal of experience with transformation.

"We are convinced that he combines the best qualities overall to make Evonik even more weatherproof in a volatile market environment through resilient financial management."

Alexander Bercht, Deputy Chairman of the Supervisory Board, said in a company statement: "I know and appreciate Christian Kullmann as a tough and open negotiating partner.

"We don't agree on all issues, but once we have agreed, you can fully rely on him. He is politically experienced and always open for debate, which is worth a lot, especially in these times."

Building financial resilience and capability

Rauch brings substantial capital markets expertise and leadership experience from multiple sectors. His career includes a 16-year tenure with Henkel, where he held various strategy and financial positions across Germany, Sweden and China.

More recently, he served as interim CEO for Selecta AG in 2025 and held both CFO and CEO positions at CompuGroup Medical across a five-year period. He also led perfumery retailer Douglas as CEO from 2017 to 2019.

Kullmann said in a company statement: "In personal conversations, I have gained a very good impression of Michael Rauch. We have major challenges to overcome and need a crisis-proof, experienced executive like him."

Rauch's appointment, effective from 1 May, will allow Dr Claus Rettig, Regional President of Evonik Asia Pacific, to fully concentrate on leading the Asia-Pacific region after performing operational tasks in the Finance Department since September 2025.

Rauch will introduce himself to Evonik's shareholders at the Annual Shareholders Meeting.

Positioning for future growth

The dual leadership decisions could provide Evonik with the foundation needed to pursue growth objectives while maintaining financial discipline.

With Kullmann's extended tenure providing strategic continuity and Rauch's transformation expertise strengthening financial operations, the company appears to be positioning itself for sustained performance.

Tönjes said in a company statement: "With a strong CEO at the helm and an excellent Executive Board overall, Evonik can tackle with full force the goals it has set."

The leadership structure suggests Evonik is prioritising both operational excellence and financial robustness as core pillars of its growth strategy moving forward.