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László F. Kovács, CEO of chemicals company BorsodChem Rt, resigned today, the company said in a stock exchange statement.
Kovács, 64, has been with BorsodChem since 1971 and was CEO for 15 years. No reason was given for his resignation.
Kazincbarcika, northeast Hungary-based BorsodChem named Kay Gugler, 51, to replace Kovács. Gugler was elected to the board in October. BorsodChem will set up a four-member executive management board to carry out its future strategy, the company said.