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Michel began his career as a banking officer in the multinational banking division of Continental Illinois’ Belgian subsidiary following which he spent 18 years at the Dow Chemical Company, where he held various treasury and risk management positions in Belgium, France, the US and Switzerland. Between 1997 and 2002, Michel was CFO of the Global Polyolefins and Elastomers division. He was the Chief Financial Officer Europe of Baxter International Inc., from 2002 to 2005, before Michel joined ABB Ltd in 2005 as Chief Financial Officer and member of the Group Executive Committee. For most of 2008, he acted as the interim Chief Executive Officer of ABB. From late 2008 to 2011, he combined his role as CFO with that of President of Global Markets

Michel was Vice-Chairman of UBS Group AG from 2010 to 2019, Chairman of Syngenta and the Syngenta Foundation for Sustainable Agriculture from 2013 to 2017 and Chairman of SwissHoldings from 2013 to 2015.

Mr Demaré graduated with an MBA from the Katholieke Universiteit Leuven, Belgium, and holds a degree in applied economics from the Université Catholique de Louvain, Belgium.