Oslo – Elkem ASA’s chief executive officer Michael Koenig has stepped down from his position and will leave the company, with immediate effect, “to pursue other opportunities.”
Elkem has initiated a succession process to recruit its next CEO, the Norwegian silicones manufacturer announced 30 June.
Former CEO and current board member Helge Aasen will lead the company as the interim chief executive.
Koenig served in leadership positions at Elkem for nearly five years. Between September 2016 and November 2019, he served as the company’s chairperson, before he took over as the CEO in December 2019.
“Elkem has delivered strong results and he leaves the company in a good position, with a positive market outlook for all divisions,” said chairman of board of directors Hao Zhigang.
During his leadership, Koenig delivered Elkem’s “all-time high” operating income in the first quarter of 2021 and the best quarterly result since the third quarter 2018.
The company has also strengthened its strategy of growth and specialisation in recent month, stepping up efforts in areas such as ESG, digital transformation and battery materials.