HOLZMINDEN (dpa-AFX) - The manufacturer of fragrances and flavors Symrise is facing a change in leadership. Jean-Yves Parisot will take over the position from long-time CEO Heinz-Jürgen Bertram at the end of March 31, 2024, the DAX-listed company announced unexpectedly in Holzminden on Thursday. The 65-year-old Bertram, whose contract was originally due to expire at the end of October 2025, is retiring. Parisot has been a member of the Management Board since 2016; his contract has now been extended until the end of September 2028. The share price came under pressure with the news.

Investors hold Bertram in high regard. He has headed Symrise since August 2009, but had been with the company for many years before that. The manager led the Group out of the global financial crisis and since then has consistently driven growth, including with many acquisitions. The share price rose by around 700 percent under Bertram. Even before Bertram's last contract extension in 2021, analyst Thomas Swoboda from the French bank Societe Generale had pointed out that Parisot would be a kind of "natural" successor to Bertram.

Parisot had previously led the food, pet food and cosmetics industry supplier Diana, which Symrise acquired in 2014 to strengthen its position in the markets and expand its activities into the pet food market./mis/jha/