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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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