Calum MacLean to Head Lanxess-Advent JV
German specialty chemicals producer Lanxess and private equity group Advent International have named Calum MacLean as CEO-designate of their planned joint venture for high-performance engineering plastics.
The appointment will become official on closing of the transaction announced on May 31, which will create a company with annual sales of around €3 billion from assets contributed by Lanxess and Dutch DSM Engineering Materials.
MacLean has extensive global experience as CEO of companies in the petrochemicals, polymers and specialty chemicals fields, most recently as head of Synthomer.
During his 17-year tenure at Ineos, the British-born executive was instrumental in the integration of Styrolution, formerly a joint venture between Ineos and BASF, along with the consolidation of the PetroIneos JV with PetroChina. He is currently a non-executive board director of Saudi Arabian chemical giant SABIC and recently stepped down from the board of Swiss specialty chemicals producer Clariant.
“Due to his background,” Ineos and Advent said MacLean “is the ideal candidate to lead the envisaged merger of equals following the ‘best-of-both-worlds’ principle and the ambition to preserve the rich heritage of both businesses.” Lanxess CEO Matthias Zachert said the JV partners will support the chief executive during the integration phase as the new company “establishes itself as a strong global player in this highly attractive market, following merger clearances.”
Once it is established, in the first half of 2023, Advent will hold a minimum share of 60% in the materials company, Lanxess the remainder. The Cologne-based chemical producer and DSM, which is moving toward concentrating on life sciences, are currently working on completing the respective carve-outs and preparing business integration for “day 1,” Zachert noted.
Author: Dede Williams, Freelance Journalist
