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2017-05-11

LANXESS appoints Stephen C. Forsyth for the Chemtura integration as further member of the Board of Management

Specialty chemicals company LANXESS is expanding its Board of Management: effective June 1, 2017, Stephen C. Forsyth (61), a British citizen, will serve as Chief Integration Officer responsible for integrating the Chemtura businesses into the Cologne-based company. LANXESS acquired the U.S. chemical company in April 2017. This newly created position is limited to one year.

Forsyth has more than 35 years of management experience in the chemical industry. Since 2007 he has acted as Executive Vice President and Chief Financial Officer of Chemtura and in that time has played a decisive role in developing Chemtura into a profitable company. Prior to that, he worked 27 years for the materials company Hexcel Corporation, holding various positions. There, he was appointed Chief Financial Officer in 1996, having previously worked as Vice President International Operations, heading up the business outside the United States. Forsyth holds an MBA from the London Business School.

LANXESS Supervisory Board Chairman Dr. Rolf Stomberg says: “The integration of the new specialty additives, urethanes and organometallics businesses takes top priority at LANXESS. In Stephen Forsyth we have brought an expert on board who together with the other members of the Board of Management will rapidly make this integration a success. The Supervisory Board wishes him every success in his new position.”

Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

LANXESS is a leading specialty chemicals company with sales of EUR 7.7 billion in 2016 and about 19,200 employees in 25 countries. The company is currently represented at 75 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Through ARLANXEO, the joint venture with Saudi Aramco, LANXESS is also a leading supplier of synthetic rubber. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World) and FTSE4Good.

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