Ciba Specialty Chemicals has appointed Armin Meyer, currently vice chairman of the board, as the new chief executive and chairman of the company, succeeding Rolf Meyer (no relation).

Armin Meyer, who has been a member of the executive committee of the technology group ABB since 1995, will assume his new responsibilities as chairman of Ciba Specialty Chemicals on November 17 and as chief executive from the start of next year.

"After 25 years at ABB and experience there in a number of senior management positions, I see this is as a highly attractive challenge, particularly since my involvement as a member of the board of Ciba Specialty Chemicals has provided me with valuable insights into the potential of the company," Armin Meyer said.

"After the successful spin-off, Rolf Meyer and his management team completed major initiatives to reduce costs, focus the portfolio and lay strong foundations for profitable growth and innovation," he added.

Ciba said in a statement that it accepted the resignation of Rolf Meyer with regret.

"The company is in good shape and is achieving strong results. After 27 years with Ciba-Geigy and Ciba Specialty Chemicals in leadership positions, and 5 years after initiating the first steps for the spin-off, I am ready for a new challenge," Rolf Meyer said.

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