Syensqo at a Crossroads: New CEO Charts a Bold Path Forward
Belgian specialty chemical company Syensqo is at a critical inflection point. Six months after taking the helm, CEO Mike Radossich has presented his strategic vision for the first time—and it signals a dramatic shift in direction for the company born from the Solvay split.
Speaking from Syensqo’s Brussels headquarters on June 16, Radossich laid out a plan to transform the company into a pure-play specialty materials and advanced technologies firm, with a sharper focus on aerospace, defense, electronics, and healthcare. The strategy comes as Syensqo works to recover from what the CEO himself calls a “crisis of confidence” that saw its stock plunge in early 2026.
From Promise to Performance Gap
Syensqo was created in December 2023 through the spin-off of Solvay’s high-margin advanced materials and specialty chemicals businesses—a project championed by former CEO Dr. Ilham Kadri. The company debuted on Euronext Brussels with high expectations, its stock reaching a peak of €108.71 just days after listing.
But the promise of high growth quickly collided with reality. Disappointing forecasts for 2026 triggered a sharp sell-off in February, sending the stock to an all-time low of €49.47 on March 19. As of June 16, shares were trading around €67.60—still far below the 2023 peak.
“Our potential was here (very high), and our performance was here (too low),” Radossich told reporters, according to La Libre Belgique. “My job is to close that gap, and to do it quickly.”
A Strategic Pivot
The centerpiece of Radossich’s plan is the strategic review of Syensqo’s Performance & Care segment, announced on May 21. This unit—which includes the Novecare and Technology Solutions business lines—generated €2.0 billion in net sales and €358 million in underlying EBITDA in 2025, representing roughly 40% of the company’s revenue and 30% of its profits.
As NewsnReleases reported, the review could lead to a sale valued at over €2 billion, allowing Syensqo to concentrate on higher-growth end markets. The company has already sold its Oil and Gas activities and plans to divest its Aroma business by the end of July 2026.
“It’s one of the most difficult decisions I’ve had to make in my young career as CEO,” Radossich said of the Performance & Care review.
Betting Big on Aerospace and Defense
A central pillar of the new strategy is aerospace. Civil aviation already accounts for about 20% of Syensqo’s business, and Radossich sees a “super-cycle of growth” ahead. The company is well-positioned as a key supplier to Boeing, Airbus, and Chinese manufacturer Comac.
Defense is another growth engine. Syensqo’s defense-related business grew 20% between 2023 and 2025, with applications in drones, missiles, and high-temperature resistant materials.
Radossich is also targeting faster innovation. He aims to cut the product development cycle from 24 months to 12 months by leveraging artificial intelligence—a bold ambition that, if realized, could significantly sharpen Syensqo’s competitive edge.
Leadership and Cost Discipline
The new CEO has moved quickly to reshape the organization. He eliminated the Chief Operating Officer position and created a new Chief Strategy and Transformation Officer role, filled by Arnaud Wisnia. Capital expenditures are being reduced by €50 million in 2026, to €450 million, as Radossich seeks to “stop the leak” of money directed at non-crucial investments.
“My mandate is very clear: it’s about value creation and sustainable growth,” he said.
The Shadow of the Kadri Era
Radossich’s strategy cannot be separated from the controversy that engulfed Syensqo in early 2026. Former CEO Ilham Kadri received a total compensation package of over €40 million for her final year, including a departure indemnity of €13.1 million, a non-compete clause of €4.4 million, and a retention bonus of €7.5 million.
La Libre Belgique reported on the public and political outrage that followed, with nearly 33% of shareholders voting against the remuneration report. The scandal reached the Belgian parliament, with politicians demanding greater transparency and potential caps on executive pay.
Radossich has sought to distance himself from the previous era while acknowledging Kadri’s role in building the company. “This is not a completely different strategy. It’s more about really improving execution. I have a lot of respect for Ilham Kadri. She built a solid company,” he said.
European Competitiveness at Stake
The CEO’s critique extended beyond Syensqo to the broader European business environment. “You enter a factory in China, everything is automated,” he said. “And in Europe, it takes longer to get a permit for a factory than to build it. Time is money. We cannot wait.”
His warning comes as the European chemical sector faces high energy costs, regulatory pressure, and intensifying competition from Asia—challenges that were central to the Antwerp Declaration of 2024 and the European Industry Summit hosted by Belgian Prime Minister Bart De Wever in February 2026.
What’s Next
Syensqo’s Q1 2026 results offered a glimmer of hope: net sales of €1.4 billion (up 5% sequentially) and underlying EBITDA of €251 million (up 6% sequentially). But the road ahead is uncertain.
The success of Radossich’s strategy hinges on execution. Can he sell the Performance & Care segment at a favorable valuation? Can Syensqo achieve the 12-month innovation cycle using AI? And can the company navigate geopolitical tensions that threaten its relationships with Boeing, Airbus, and Comac?
“I love this company and I want to see it realize its potential,” Radossich said. For Syensqo’s investors, employees, and the Belgian business community, the hope is that this time, the potential will finally be realized.