Christian Kullmann’s contract as Evonik’s chief executive officer runs until 2027, and the supervisory board will decide whether to extend it in the summer. Supervisory board chairman Bernd Tönjes stressed that stability and continuity are essential in the company’s current critical phase.
Tönjes also expressed disappointment that Evonik’s market valuation does not reflect its true potential, attributing the discrepancy to external market conditions rather than the management team. He is the chief of the RAG Stiftung, Germany’s largest private foundation, which holds 46 % of the shares. The foundation has been a major shareholder for years.
By June, the board will need to fill the permanent vacancy in the CFO position. Tönjes said the new manager must be crisis‑tested and resilient, with extensive experience in periods of upheaval. The foundation backs Evonik’s revised dividend policy, which effectively reduces the payout. Tönjes assured shareholders that the foundation’s diversified portfolio is large enough to absorb the lower dividend income, and that it is gradually becoming a more “normal” investor rather than a strategic stakeholder.