COLOGNE, Germany – The Supervisory Board of LANXESS AG announced it has reached a mutual agreement to end the contract of Axel C. Heitmann as a member and Chairman of the Board of Management of LANXESS AG, effective February 28, 2014.

Heitmann’s successor is Matthias Zachert, former Chief Financial Officer of LANXESS and currently Chief Financial Officer at Merck KGaA. Zachert will assume his position no later than May 15, 2014.

Until Zachert joins the Board of Management, LANXESS Chief Financial Officer Bernhard Duettmann will perform the responsibilities of the previous Chairman of the Board of Management.