A Schulman appoints three new members its board

A Schulman appoints new members to its board

9:32 AM, 11th September 2017
A Schulman logo

AKRON, US: A Schulman Inc (SHLM) has appointed Allen Spizzo and Carol Eicher to its board of directors, effective immediately.

Spizzo currently serves on the board of Ferro Corporation as a member of the audit and compensation committees and on the board of directors of Global Specimen Solutions Inc a privately held informatics company.

Eicher is a non-executive chairman of Innocor Inc where she is the past president and CEO. She serves on the board of directors and is the current chair of the governance committee for Tennant Company.

In connection with these appointments, the board size will be increased to ten directors, nine of whom will be independent. Spizzo will serve on the board's audit, finance, and nominating and corporate governance committees, and Eicher will serve on the compensation, audit and executive committees.

In addition, the company also announced that Dr William Joyce has been appointed as senior advisor to the board, effective immediately. In this capacity, Joyce will serve as a consultant to the company and as an advisor to the board for a term of two years.

Joyce is the chairman and CEO of Advanced Fusion Systems LLC. He is also the retired chairman of the board and CEO of Nalco Holding Co, Hercules Inc, Union Carbide Corporation and former vice chairman of Dow Chemical Co.

"Carol, Allen and Bill each have a deep understanding of the global chemicals industry and we are excited that they will contribute their time, energy and experience to the A Schulman board. In particular, their collective industry knowledge will help support our planned leadership succession as it relates to our CEO search. These appointments are in line with a number of important governance steps our board has taken over the past year to refine the company's focus and improve its execution of sustainable value creation for the benefit of our shareholders.," said Joseph  Gingo, A Schulman chairman, president and CEO.

These appointments follow a cooperation agreement among A Schulman, Cruiser Capital Advisors LLC, and Kingdon Capital Management LLC, which collectively own 9.83 percent of A Schulman common stock.

The Joyce Trusts, in which Dr William Joyce has a pecuniary interest, own 2.55 percent of A Schulman common stock.

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