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.
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