The future of industry: a turning point for innovation and sustainability

After more than 16 years as CEO of RENOLIT, Michael Kundel will hand over the baton to me on January 1, 2025. As the new CEO, I will assume responsibility for the future of our company - a great honor for which I am very grateful. A new chapter is now beginning for RENOLIT. My colleagues on the Executive Management Board, Sven Behrendt, Thomas Sampers and Torsten Maschke, and I will work together with all our strength to continue the success story. This is therefore the ideal moment for me to reflect not only on the future of RENOLIT, but also on the future of the entire industry. 

The last few decades have been characterized by growth and economic strength worldwide. Industry has developed rapidly during this time - shaped by globalization and ever-expanding markets. Companies in all sectors took advantage of this phase to expand their production capacities and expand internationally.

RENOLIT has also undergone a remarkable transformation during this time. We have developed from a medium-sized company from Worms into a global corporation and are now one of the leading companies in the plastics industry. Yes, this success naturally also reflects the upturn in the industry driven by globalization and growth strategies. For me, however, it is also an expression of the successful work of the entire RENOLIT team.

The world in which we live and work today has changed fundamentally. Global crises, geopolitical tensions and climate change have had a major impact on the framework conditions for industry. At the same time, technological disruptions and rapid progress are gaining enormous momentum in many countries. International competition has intensified - more and more companies are entering global markets and taking advantage of the opportunities offered by innovation and digitalization.

For companies, this means that it is no longer enough to simply keep pace with change. Competition is growing and the pressure to compete internationally is increasing. If you want to survive in this environment, you not only have to react to technological developments, but also be a pioneer yourself and drive innovation. These challenges require a rethink that focuses on innovative strength and future viability.

The coming years will be decisive for companies in the industry. Those who do not consistently modernize and react to the urgent developments will be left behind. 

But in all this change, we must not forget one thing: Success is based on people. For me, it's not just about driving technological developments forward, but also about focusing on the people who shape this change. Without a strong, motivated team and a corporate culture that promotes collaboration and mutual trust, innovations will not be sustainable. Competitiveness arises when we combine both: technological progress and the strength of the team that drives it forward.

In my view, it is therefore the following six topics that determine the success or failure of a company and ensure both innovative strength and future viability.

In today's highly competitive market, efficiency and competitiveness are not just success factors, they are essential for survival. For RENOLIT, this also means that we have to continue to optimize our processes and keep asking ourselves how we can improve our position. Michael Kundel recently published an important post on this topic here in the blog. 

Technological innovation is the engine that drives industry forward. Companies around the world must continuously invest in new technologies in order to remain competitive. We all need to be more courageous in consistently driving innovation forward. The development of new products and solutions and the tapping of promising new business areas will be crucial in determining which companies prevail in the years to come. We on the Executive Management Board of RENOLIT will therefore do everything in our power to push this forward. 

Digitalization and artificial intelligence are among the technological innovations that are so crucial that I would like to highlight them here separately. In the future, they will be integrated even more closely into all areas of industry. These technologies open up enormous possibilities for automating processes, making data-based decisions and working more efficiently. At RENOLIT, we will continue to consistently advance digitalization in all areas and promote the use of artificial intelligence where it is possible and useful.

Sustainability and climate protection are among the greatest challenges facing global industry today. It has long been clear that these issues are not only moral obligations, but also crucial to the economic viability of companies. Industry must consistently implement sustainability strategies, but always in a targeted and economically viable manner. It is not enough to just take short-term measures – we must develop long-term, sustainable solutions that also ensure economic success. Companies that find this balance will remain competitive in an increasingly environmentally conscious world.

As CEO of RENOLIT, I and the Executive Management Board will continue to pursue the path we have already taken towards becoming a fully sustainable company – not only as part of our responsibility, but also as a driving force for our future economic success.

In many countries, companies today operate with remarkable agility, speed and flexibility, and adapt effortlessly to new conditions. This ability to respond quickly to change and seize new opportunities is increasingly becoming a decisive factor for success.

For more traditional companies, particularly in the German SME sector, this is often a challenge. Established structures do not always make it easy to develop the necessary flexibility. At RENOLIT, we also still have a way to go in this respect. However, a great opportunity exists here: by further developing our corporate culture and focusing on rapid adaptation and a willingness to change, we will set the course for long-term success.

In today's working world, it is crucial that companies embrace diversity. Diversity – whether in terms of gender, age, culture or background – not only strengthens social interaction, but is also an important economic factor. Companies that create a diverse and inclusive environment are more attractive to skilled workers and promote innovation through diverse perspectives.

It is particularly important to appeal to young talents, to promote women more strongly and to make use of the cultural diversity of employees. At RENOLIT, we also still have potential in this area that we have to exploit in a targeted manner in order to continue to grow as an employer and innovation leader.

The following applies to the entire industry: diversity and equality are not only social concerns, but also decisive factors for competitiveness and future viability.

As someone who comes from the Ruhr area, I particularly appreciate the value of community and team spirit. I firmly believe that no company is successful because of individuals, but because of the power of a dedicated team. That is why it is particularly important to me to foster a culture in which everyone feels heard and can contribute – from young talents to experienced employees.

As CEO, I will continuously work to establish a management culture that is based much more on community and collaboration. Together, as TeamRENOLIT, we will achieve our ambitious goals.

My goal is to make RENOLIT one of the most competitive and forward-thinking companies in the global plastics industry. The future offers us great opportunities, but it also requires courage, responsibility and the willingness to overcome old ways of thinking. As the Executive Management Board, we will actively seize these opportunities and shape a future characterized by innovation, sustainability and competitiveness. Together with our strong TeamRENOLIT, I look forward to continuing this journey and to writing the next chapter of our success story.