Lubrizol names executive VP as its next CEO

Lubrizol names executive VP as its next CEO

11:48 AM, 3rd June 2016
Lubrizol names executive VP as its next CEO
Eric Schnur appointed as CEO of Lubrizol Corporation. (File photo)

CLEVELAND, US: The Lubrizol Corporation has named executive vice president and chief operating officer Eric Schnur as its new president, effective immediately, and will become chairman and chief executive officer (CEO) on 2 January 2017.

Schnur will succeed James Hambrick, the current chairman, president and CEO, having fulfilled his commitment to remain in those roles for five years has decided to complete his 38-year Lubrizol career. This transition reflects the company's long standing succession planning process. In addition, Greg Taylor, senior vice president of corporate strategy and development, will retire later this year.

Schnur joined Lubrizol in 1989 as a development engineer in the R&D division. He has held a variety of positions across numerous product lines in the Lubrizol additives and Lubrizol advanced materials business segments, including technical and commercial roles, vice president and general manager.

Taylor is successfully concluding a 36-year career with Lubrizol that spanned a wide range of financial, planning and business development roles. He has directed corporate planning since 2003 and was named to his current position in March 2007.

“I am honoured by the opportunity to lead such a special company, and I thank James for his confidence in me. Hambrick has made significant contributions to the transformation of the company during his CEO tenure and I look forward to building upon this strong foundation, continuing to execute on our strategy and enhancing Lubrizol's ability to deliver value to our customers in the markets in which we participate,” said Schnur.

“It has been a privilege to serve this great company for the past 38 years, and especially to work with our highly talented management team in the successful transformation of Lubrizol over the past 14 years. I now look forward to pursuing my other interests beyond Lubrizol, knowing that I am leaving the company in capable hands,” said Hambrick. Schnur has been an essential member of our leadership team for many years. He is an experienced and visionary leader with the necessary strategic, operational and financial acumen required to direct Lubrizol in the next phase of its growth and evolution.

“Taylor has been instrumental in progressing Lubrizol's strategy to strengthen the enterprise and enhance its product portfolio through acquisitions. As such, Taylor has provided countless hours of strategic guidance to our businesses. He has been a real asset to the company and we wish him well in his retirement,” added Hambrick.

© Worldofchemicals News

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