The Azelis Board of Directors announces a series of key measures to advance Azelis' development over the coming years. They include the appointment of Dr. Hans-Joachim Müller as the new Chief Executive Officer of Azelis Holding as Joris Coppye steps down, and a capital increase to fund future growth supporting the new CEO's mandate for expansion.

In order to steer the next stages of Azelis' successful development the Board is pleased to welcome Dr. Hans-Joachim Müller, as the new CEO of Azelis Holding.

Hans-Joachim Müller joins Azelis from Clariant where he sat on the Executive Committee.

Underpinning the new CEO's mandate and to finance further growth, in August 2012, the company's existing group of shareholders injected a capital increase of €30 million‚¬, with the majority being provided by 3i. In the course of the capital increase, Azelis also successfully renegotiated a range of financial parameters with its syndicate of lenders that will result in greater operational flexibility.

Supporting Hans-Joachim Müller will be Laurent Nataf who takes over responsibility for European Operations in addition to his current role within Azelis as Group Business Development Director. Laurent has extensive knowledge of the chemical distribution industry and more than 10 years service in Azelis. He will focus on achieving effective commercial execution across the group in his new role.

Hans-Joachim Müller will also appoint a new Chief Financial Officer in due course. After three years as CFO during the period of business transformation and successfully completing the recapitalization of Azelis in August, Günther Krausser will move on to become non-executive director in the Board of Azelis Holding. Günther will remain available to facilitate a seamless transition period until a new CFO is appointed.