Oterra, a leading producer of natural colors and color solutions, today announced that its CEO Martin Sonntag has decided to step down and leave Oterra for personal reasons.

The Board of Directors has initiated a search process for the next CEO. Until a new permanent CEO is appointed, the current General Counsel, Catja Baltser, will step in as acting CEO. Chairman of the Board Arnd Kaldowski will assume an expanded role as Executive Chairman during the transition period and work closely with Catja and the leadership team.

Arnd Kaldowski said: “On behalf of the Board, I would like to express our sincere thanks to Martin for his commendable efforts and dedication in leading Oterra to a strong positive momentum, with solid revenue and EBITDA growth, while at the same time building a strong executive leadership team.

We continue to be excited about the strong growth potential of Oterra given the ongoing conversion of the US market to natural colors, coupled with the strong position of Oterra as the leading player in this attractive market segment.”

Martin Sonntag added: “It has been a true privilege to serve as CEO of Oterra, and I feel deep appreciation for our employees and the remarkable commitment they bring to the company every day. I am confident the momentum will continue due to the Oterra capabilities built and the talented and dedicated team will succeed and accomplish great things in the years ahead."

Oterra has initiated the search for Martin Sonntag’s replacement. Martin will be available to the Company over the next months, to ensure a smooth handover to the transition team.