Martin Babilas will become the new chief executive of German chemical producer Altana upon the retirement of Matthias L. Wolfgruber on January 1, 2016.
The 43-year-old executive took over additional responsibility for two of the Bad Homburg-based company’s four divisions from the CEO in November of last year. On stepping into the new job Babilas also will take over responsibility for Corporate Development/M&A, Human Resources, Corporate Communications and Internal Audit from the 61-year-old Wolfgruber.
Effective Aug. 1, 2015, Altana will also have a new chief financial officer, Stefan Genten. The 46-year-old will move from German pharmaceutical producer Grünenthal, where he held the same position since 2005. Genten was also in charge of operative functions, such as the Latin American business, and was appointed chief operating officer in 2010.