Company Financial

Dr. Max Padberg joins Armacell as Chief Financial Officer (CFO)

Luxemburg, July 1, 2015 – The Supervisory Board of Armacell, a global leader in flexible insulation foams for the equipment insulation market and a leading provider of engineered foams, has appointed Dr. Max Padberg as Chief Financial Officer (CFO) and Member of the Management Board as of July 1, 2015. In his new role, Padberg will be responsible for Group Finance, Corporate Controlling, Accounting, Tax and IT.

"I am looking forward to the opportunities at Armacell and supporting the company in delivering its international growth strategy and expanding its strong market position”, says Dr. Max Padberg.
He succeeds Denis Van Roey, who left the company effective June 30, 2015, to take on new career challenges. Van Roey has been CFO at Armacell since 2011.

Stephan Morgan, Chairman of the Supervisory Board of Armacell International S.A.: “We would like to thank Denis Van Roey for his outstanding contribution to the company`s success over the past 11 years in his different positions at Armacell.  We wish him well on his future career path. In Dr. Max Padberg, we have appointed an experienced financial expert who has extensive knowledge in working with capital markets. The Supervisory Board wishes him every success in his new position.”

Patrick Mathieu, President and Chief Executive Officer of Armacell stated, “I am pleased to welcome Dr. Max Padberg to the Executive Management Team of Armacell. He is a broadly skilled professional who has assumed wide-ranging responsibilities which include M&A, IT, tax, legal, insurance, treasury and purchasing.”

Prior to joining Armacell, Dr. Max Padberg served as CFO for RÜTGERS Group in Duisburg, Germany, Europe’s leading manufacturer of chemical feedstock derived from coal tar to produce essential basic materials for the aluminum and steel industries, as well as, technical oils, naphthalene and other basic chemicals. He successfully prepared the company for a trade sale and has led large international teams in improving their financial processes and systems. He has worked with RÜTGERS Group since 2010.
Dr. Padberg has also served as CFO of Versatel AG, had the worldwide finance responsibility for LSG Sky Chefs and several management positions with Mannesmann in Germany and in the USA.
Dr. Max Padberg received his PhD in finance from the University of Muenster, Germany. He is married and has 3 children.