Ferro CEO James Kirsch resigns; Peter Thomas named Interim CEO

Ferro CEO James Kirsch resigns; Peter Thomas named Interim CEO

7:00 AM, 15th November 2012
Ferro CEO James Kirsch resigns; Peter Thomas named Interim CEO
Peter T Thomas is named as Interim President and Chief Executive Officer, Ferro Corporation. He was earlier the Operating Vice President of Polymer and Ceramic Engineered Materials, Ferro.

CLEVELAND, US: Ferro Corporation announced that James F Kirsch has stepped down as President and Chief Executive Officer. With this, the board of directors named Peter T Thomas, Operating Vice President of Polymer and Ceramic Engineered Materials, as Interim President and Chief Executive Officer, Ferro.

The board has engaged a third-party search firm to search for a permanent successor to Kirsch and will consider both internal and external candidates. William B Lawrence, Member of Ferro’s board (Director) is serving as Acting Chairman of the board.

“Since late 2004, Jim was instrumental in strengthening our balance sheet, developing a strong company culture and improving our organizational processes. But the board and Jim have agreed that now is the right time to identify new leadership for the future,” said Lawrence.

“The company is moving aggressively to enhance its return on invested capital. Peter has more than 30 years of experience and has a track record at Ferro enhancing value through cost reductions and improved leverage on existing capital. His experience and achievements led the board’s decision to select him for this interim position and to consider him a candidate to become the permanent CEO,” he added.

Peter Thomas has served as Operating VP of Polymer and Ceramic Engineered Materials at Ferro since 2009. He began his career with Ferro in 2000 and has held positions of increasing responsibility. Prior to joining Ferro, Thomas was VP, Oleochemical-Derivatives business unit for Witco Corporation. Before joining Witco, he served in a variety of roles at Inland Leidy Chemical Distribution, GAF Corporation and Noxell Corporation.

© WOC News

 

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


SK to acquire antioxidant and UV stabilizer business of Chemtura

NEW YORK, US: SK Capital Partners has signed asset purchase agreement to acquire the antioxidant and UV stabilizer solutions business of Chemtura Corp ...

Read more
LyondellBasell to restore LDPE capacity in Germany

ROTTERDAM, THE NETHERLANDS: LyondellBasell will restore a low-density polyethylene (LDPE) line in Wesseling, Germany, that has been out of service sin ...

Read more
Sabic, Vopak to invest in new terminal in Jubail, Saudi Arabia

ROTTERDAM, THE NETHERLANDS: Vopak and Sabic have decided to jointly invest in a new terminal in King Fahd Industrial Port at Jubail, Saudi Arabia, to ...

Read more
Sasol unveils new research, technology centre in South Africa

JOHANNESBURG, SOUTH AFRICA: Sasol Technology unveiled its new research and technology (R&T) facility at the Sasol one site in Sasolburg. This mark ...

Read more
Mitsui Chemicals expands global metallocene business

TOKYO, JAPAN: Mitsui Chemicals Inc plans to expand global metallocene business operations under its wholly owned subsidiary, Prime Polymer Co Ltd, by ...

Read more
BASF, Gazprom agree on asset swap

LUDWIGSHAFEN, GERMANY: BASF and OAO Gazprom signed a binding basic agreement to swap assets of equivalent value. BASF aims to further expand its produ ...

Read more