Beiersdorf AG said Oct. 15 that it has appointed Stefan De Loecker as chairman of its executive board, effective Jan. 1, 2019.

De Loecker will succeed Stefan Heidenreich, who will step down from the executive board on Dec. 31, 2018, according to the release.

The company earlier announced that Heidenreich will resign from his role when his term ends on Dec. 31, 2019 or earlier, if the supervisory board finds a suitable successor. At that time, De Loecker was named deputy of the chairman of the executive board.

The announcement follows a report by Reuters in September that said De Loecker will be appointed CEO in December.