BERWYN, Pa.--(BUSINESS WIRE)--
Trinseo
(NYSE: TSE), a global materials company and manufacturer of plastics,
latex binders and synthetic rubber, today announced that Christopher D.
Pappas, President and Chief Executive Officer, has announced his plans
to retire in 2019.
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Christopher D. Pappas, Trinseo's President and CEO (Photo: Business Wire)
Trinseo’s Board of Directors engages in ongoing succession planning and
intends to name a successor soon. Pappas plans to help support a smooth
and seamless transition to the company’s next chief executive officer.
Pappas said, “I am extremely proud of all that we have accomplished at
Trinseo in the last eight years – from the Company’s formation in 2010
via spin-off from Dow Chemical, through its ownership by private equity
with Bain Capital Partners, to an initial public offering and listing on
the NYSE in 2014, followed by further expansion through acquisition and
market-driven growth. The Company has incredibly talented people, a
strong financial position, and an agile, values-based culture that
positions Trinseo for a bright and exciting future.”
Stephen M. Zide, Chairman of the Board of Directors, said, “On behalf of
the Board, I want to thank Chris for his leadership, vision and
countless contributions to Trinseo. Chris has been at the helm since the
beginning when the Company was formed more than eight years ago. The
Board has the utmost respect and appreciation for Chris’ leadership, and
all of us wish Chris the very best in his well-deserved retirement.”
About Chris Pappas
Pappas has had a 40-plus year distinguished career in the chemicals and
plastics industry, and is an accomplished leader of complex global
businesses. In his role as Trinseo's President and CEO, he led the
company's formation and global growth.
Pappas started his career at The Dow Chemical Company, and later moved
to senior leadership roles at DuPont Dow Elastomers LLC, and NOVA
Chemicals Corporation where he held roles including Chief Operating
Officer and President and CEO.
He was named to lead Trinseo (formerly known as Styron) in March 2010,
and assumed the role in June 2010 upon the sale of Trinseo from Dow to
Bain Capital Partners. Pappas also serves on the Board of Directors for
FirstEnergy Corp. (NYSE: FE) and Univar Inc. (NYSE: UNVR).
In November, Institutional Investor magazine ranked Pappas as the
#1 CEO among mid-cap publicly traded chemical companies for 2018, based
on voting from investors and sell-side research analysts. In 2017,
Pappas received the Leadership Award for Outstanding Corporate
Reinvention from the American Chemical Society’s New York Section for
his visionary leadership, focus on safety and technology, financial
discipline, and for Trinseo’s growth, in which the company tripled in
value between 2014 and 2017.
Pappas holds a Bachelor of Science degree in Civil Engineering from The
Georgia Institute of Technology and an MBA from The Wharton School of
Business at The University of Pennsylvania. He is a member of the
External Advisor Board for Georgia Tech’s School of Civil &
Environmental Engineering. He is married and has three children.
About Trinseo
Trinseo (NYSE: TSE) is a global materials solutions provider and
manufacturer of plastics, latex binders, and synthetic rubber. We are
focused on delivering innovative and sustainable solutions to help our
customers create products that touch lives every day — products that are
intrinsic to how we live our lives — across a wide range of end-markets,
including automotive, appliances, consumer electronics, medical devices,
electrical, building and construction, textile, paper and board,
footwear and tires. Trinseo had approximately $4.4 billion in net sales
in 2017, with 16 manufacturing sites around the world, and approximately
2,200 employees. For more information visit www.trinseo.com.
Note on Forward-Looking Statements
This press release may contain “forward-looking statements” within the
meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,” “target,”
“outlook,” “guidance,” “intend,” “plan,” “may,” “will,” “could,”
“should,” “believes,” “predicts,” “potential,” “continue,” and similar
expressions are intended to identify such forward-looking statements.
Forward-looking statements in this press release may include, without
limitation, forecasts of performance, growth, net sales, business
activity, and other matters that involve known and unknown risks,
uncertainties and other factors that may cause results, levels of
activity, performance or achievements to differ materially from results
expressed or implied by this press release. Such factors include, among
others: conditions in the global economy and capital markets; the
inability of the Company to execute on its business strategy; volatility
in costs or disruption in the supply of the raw materials utilized for
our products; loss of market share to other producers of chemical
products; compliance with laws and regulations impacting our business;
changes in laws and regulations applicable to our business; our
inability to continue technological innovation and successful
introduction of new products; system security risk issues that could
disrupt our internal operations or information technology services; the
loss of customers; the market price of the Company’s ordinary shares
prevailing from time to time; the nature of other investment
opportunities presented to the Company from time to time; and the
Company’s cash flows from operations. Additional risks and uncertainties
are set forth in the Company’s reports filed with the United States
Securities and Exchange Commission, which are available at http://www.sec.gov/
as well as the Company’s web site at http://www.trinseo.com.
As a result of the foregoing considerations, you are cautioned not to
place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. All forward-looking
statements are qualified in their entirety by this cautionary statement.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181211005468/en/
Press contacts:
Trinseo
Donna St. Germain
Tel : +1
610-240-3307
Email: stgermain@trinseo.com
Makovsky
Doug Hesney
Tel: +1 212-508-9661
Email: dhesney@makovsky.com
Investor Contact:
Trinseo
David Stasse
Tel : +1
610-240-3207
Email: dstasse@trinseo.com
Source: Trinseo