When Henkel announced the merger of its two consumer businesses in January 2022, the company had also announced that Bruno Piacenza would leave the company by the end of 2022 at the latest, after having been closely involved in the integration process. As Henkel is ahead of the originally announced schedule in implementing the new organizational structure of Henkel Consumer Brands, the change has now been brought forward.
Sep 30, 2022 Düsseldorf / Germany
Bruno Piacenza leaves Henkel after more than 30 years of successful service to the company
Effective September 30, 2022, Bruno Piacenza (56), who has been Executive Vice President of Henkel's Laundry & Home Care business sector since 2011, will leave the Henkel Management Board, as already announced at the beginning of the year. Wolfgang König (50), currently Executive Vice President for Beauty Care, will additionally assume responsibility for Laundry & Home Care with effect from October 1, 2022 and will also lead the newly created Henkel Consumer Brands business unit in the future.
Dr. Simone Bagel-Trah, Chairwoman of the Supervisory Board and Shareholders' Committee, expressly thanked Bruno Piacenza on behalf of the corporate bodies and the Henkel family for his many years of service to the company. "Bruno Piacenza has made a significant contribution to the successful development of the Laundry & Home Care business unit and thus to Henkel as a whole. Under his leadership, Laundry & Home Care's market position was significantly expanded internationally, important product innovations were introduced, and sustainability was significantly strengthened along the entire value chain – from the development and use to the recyclability of our products," said Dr. Simone Bagel-Trah.
Henkel CEO Carsten Knobel also thanked Bruno Piacenza for decades of successful service, dedication and contribution to the company: "On behalf of all Henkel colleagues, I would like to express my sincere thanks to my Board colleague Bruno Piacenza. He looks back on more than three decades with our company and has successfully led our Laundry & Home Care business for almost 12 years. Thanks to his passion and expertise, our top brands and the whole business unit have developed very strongly during this time. I would also like to expressly thank him for his active support of the ongoing integration process into Henkel Consumer Brands. Due to the good progress made in the ongoing integration, we have jointly decided that now is the appropriate time for a change in responsibility."
Bruno Piacenza was born in France and began his professional career at Henkel in 1990. Before joining the Management Board, he was Corporate Senior Vice President with responsibility for Beauty Care in the regions of Western Europe, Middle East/Africa and Asia-Pacific, and as President for Henkel in France. In 2011, he was appointed to the Henkel Management Board, being responsible for the Laundry & Home Care unit.
Henkel plans to merge Laundry & Home Care and Beauty Care to create new “Consumer Brands” business unit
- Creating one multi-category platform for growth with around 10 billion euros sales
- Continued optimization of consumer portfolio: clear focus on core brands and businesses with attractive growth and margin potential and a stronger basis for M&A across consumer space
- Significant synergies and efficiency gains expected through the combination
- Launch of share buyback program of up to 1 billion euros: leverage strong balance sheet and cashflow, optimize the capital structure and signal strong confidence in the future potential for profitable growth
- Preliminary results for 2021 published: Organic sales growth (OSG) of +7.8 percent, EBIT margin* of 13.4 percent and earnings per preferred share* (EPS) growth of +9.2 percent (at constant exchange rates)
- Outlook for 2022: OSG: 2 to 4 percent, EBIT margin*: 11.5 to 13.5 percent, EPS* development: -15 to +5 percent (at constant exchange rates), reflecting high level of market uncertainty and volatility
- New mid- to long-term financial ambition for Henkel: OSG of 3 to 4 percent, EBIT margin* of around 16 percent and mid- to high-single-digit percentage EPS* growth (at constant exchange rates, incl. M&A)