Henkel CEO Says Merging Units Not Step Towards Splitting Up Firm

Henkel Chief Executive Officer Carsten Knobel said the merging of two of the company’s business units is not a first step toward splitting the company between consumer goods and adhesives.

“The answer is very clear: no,” said Knobel on Friday during a call with analysts in response to a question on whether Henkel should be divided into two units with possibly two stock exchange listings in future.

He said the company was convinced that its cosmetics, and detergents and cleaning agents businesses were attractive.

Henkel said on Friday that it will merge its laundry and beauty care units as part of plans to strengthen its consumer goods business.

(Reporting by Matthias Inverardi; Writing by Miranda Murray; Editing by Paul Carrel)