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Annen Joins Cognis as CFO

Published on 2006-05-10. Author : SpecialChem

CINCINNATI, -- Cognis Corporation has named Georg E. Annen as Chief Financial Officer. As CFO, Mr. Annen will direct Cognis' financial goals, objectives, and budgets. He will oversee the investment of funds and manage associated risks, and supervise cash management activities. Mr. Annen will report to Cognis Corporation President Paul Allen in Cincinnati, Ohio, and Cognis Group CFO Arnold Kiel in Monheim, Germany.

"Georg is a first-class addition to our management team at Cognis," Mr. Allen said. "Georg is a highly accomplished financial executive with global experience, and highly respected in his field. And he knows our business. We're delighted that Georg is joining us."

A German native, Mr. Annen comes to Cognis from the Degussa Corporation, the German specialty chemical firm. At Degussa, Mr. Annen most recently served as Vice President Controlling and Business Services for Degussa's Peroxygen Chemicals business unit in Parsippany, N.J. He previously served as Vice President Controlling for Degussa's Catalysts and Initiators business unit.

Prior to Degussa, Mr. Annen worked for Messer, an industrial gases company, now Air Liquide. His time at Messer included a six-year assignment in Johannesburg, South Africa, as finance head of Messer's South African affiliate.

Mr. Annen, 45, is married and the father of three children.

About Cognis

Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients. The company employs about 8,000 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Another main focus is on products for a number of other industries, such as coatings and inks, lubricants, textiles, as well as agriculture and mining. The company holds a 50-percent stake in Cognis Oleochemicals, one of the world's leading manufacturers of natural-source oleochemical basestocks.

Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2005, Cognis recorded sales of 3.18 billion euros and an Adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization and exceptional items) of 356 million euros.

Source: Cognis

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