New CEO for chemicals specialist Syensqo
Ilham Kadri is stepping down as CEO of Syensqo, the speciality chemicals business formed from Solvay, the company has announced.
Kadri became CEO of Solvay in 2019. At the end of 2023, she split it into two separate companies: Solvay and Syensqo. She has since been CEO of Syensqo, which manufactures polymers and composites for a range of industries and develops materials for battery cells for electric cars.
“It has been the highlight of my career to serve as CEO of Solvay and now Syensqo,” Kadri said. I would like to thank our incredible employees who have been by my side in this bold transformation.”
Transfer of leadership
Kadri will be remembered “as the architect of the successful split, creating two publicly-listed companies with strong balance sheets and healthy credit profiles”, Rosemary Thorne, chair of Syensqo’s board of directors, said in a press release.
She will be succeeded on 1 January by Mike Radossich, who joined Solvay a decade ago through the acquisition of the US company Cytec Industries. He is currently responsible for the Performance & Care and Other Solutions segments at Syensqo.
Preparations for the transfer of leadership will begin immediately and Kadri will remain a special advisor.
Last year, the Brussels-based company achieved a turnover of almost 6.6 billion euros. It employs more than 13,000 people in 30 countries.
Diversity on Belgian boards
With the departure of Kadri in January, Anna Bertona of Azelis will be the only female CEO of a BEL 20 company.
The House of Representatives passed a law in 2011 to ensure that at least one-third of board members are women, with penalties for non-compliance.
According to the latest assessment of this legislation, by the Institute for the Equality of Women and Men, the proportion of women on Belgian boards rose from 8.2 per cent in 2008 to 34.1 per cent in 2020.
At European level, a directive that came into force in 2024 sets a target for large listed companies of 40 per cent of the underrepresented sex among their non-executive directors and 33 per cent among all directors. Companies must meet these targets by 30 June 2026.
On average, women make up 34 per cent of company boards in the EU, according to the European Commission. However, representation varies between member states.
In 2024, the proportion was 39.6 per cent in countries with binding quotas, compared with 33.8 per cent in countries without binding measures and 17 per cent in countries that have taken no measures.
Bertona joined chemical and food distributor Azelis in 2013 as vice president for Strategic Planning and Implementation. She took over as head of the Europe-Middle East-Africa region in 2016 before succeeding Hans Joachim Müller as CEO in 2023.
Outgoing Syensqo CEO Ilham Kadri in 2024 © BELGA PHOTO BENOIT DOPPAGNE
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