Henkel AG & Co. KGaA said Oct. 24 that CEO Hans Van Bylen will step down for personal reasons and will hand over the position to CFO Carsten Knobel, effective Jan. 1, 2020.

Van Bylen joined the company in 1984 and has been a board member since 2005. Meanwhile, Knobel joined the company in 1995 and has been on the management board since 2012.

Knobel's replacement as CFO is still being decided, according to Henkel.