FRANKFURT (dpa-AFX) - The announcement of Christian Kohlpaintner's departure as Brenntag CEO only briefly unsettled investors on Tuesday afternoon. In the first reaction, the share price fell by 2.5 percent to a daily low, but then recovered and approached the level before the news. Most recently, it was down just under 0.4 percent in a weaker DAX environment.

Kohlpaintner, who has headed the company for many years, cited personal reasons for not renewing his contract, which runs until the end of December 2025. He has been at the helm of the chemicals trader since the beginning of 2020, when the coronavirus pandemic began with a crash.

During the Kohlpaintner era, the Brenntag share price reached a record high of EUR 87.40 in the summer of 2021, which the share came very close to again at the beginning of the year at over EUR 87. However, due to investors' concerns about the economy, the share price has fallen by around 30% since then, peaking at more than 37%. The share is therefore one of the six biggest DAX losers this year./tih/jha/