Umicore has announced the appointment of Bart Sap as its new Chief Executive Officer, succeeding Mathias Miedreich, who is stepping down following a mutual agreement with the company's supervisory board. Sap, who joined the Belgian chemical firm in 2004 and has been the executive vice president of the catalysis business since 2021, will take on his new role effective May 16. Miedreich will remain available to provide advice to Umicore for the next several months.
One of Sap's primary tasks as CEO will be to reassess the company's plans for its battery materials business, especially given the recent slowdown in demand for electric-vehicle battery materials. The initial outcomes of this review are expected to be shared during Umicore's half-year results announcement on July 26.
In a related move, Jensen Verhelle, who joined Umicore in 2008, will take over as executive vice president of the catalysis business and will also join the management board, effective May 16.
Additionally, Chief Strategy Officer Frank Daufenbach will be leaving the company. His responsibilities will be redistributed among the members of Umicore's management board.
