Syensqo Stock Plummets: IPO Fallout & Investor Concerns

Syensqo, the Belgian specialty chemicals company spun off from Solvay in December 2023, experienced a significant drop in its stock price on September 17, 2025, following the announcement that CEO Ilham Kadri would be stepping down. The company’s shares plummeted, contributing to a broader downturn in the Bel20 index, according to reports from Belgian news agency Belganewsagency.eu.

Kadri, who led Solvay as CEO from 2019 and subsequently transitioned to lead Syensqo after the split, described her tenure as “the highlight of my career” in a statement released alongside the announcement. She expressed gratitude to the company’s employees for their contributions during the “bold transformation.”

Rosemary Thorne, chair of Syensqo’s board of directors, lauded Kadri as “the architect of the successful split, creating two publicly-listed companies with strong balance sheets and healthy credit profiles.” The transition will begin immediately, with Kadri remaining as a special advisor.

Mike Radossich, currently responsible for Syensqo’s Performance & Care and Other Solutions segments, will succeed Kadri as CEO on January 1, 2026. Radossich joined Solvay a decade ago through the acquisition of Cytec Industries.

The leadership change occurs as Syensqo navigates a challenging market environment. Last year, the Brussels-based company reported a turnover of almost 6.6 billion euros and employs over 13,000 people across 30 countries. The company recently announced a partnership with Microsoft on AI innovation, according to Belganewsagency.eu.

Kadri’s departure leaves Anna Bertona of Azelis as the sole female CEO of a BEL 20 company. This shift comes after a 2011 law aimed at ensuring at least one-third of board members are women, with penalties for non-compliance.