PPG appoints current CEO as next chairman ofboard

PPG chairman to retire after 37 years

7:22 AM, 26th July 2016
PPG appoints current CEO as next chairman of the board
Michael McGarry appointed as chairman and CEO of the board of PPG Industries effective 1 September.

PITTSBURGH, US: PPG Industries said that its executive chairman of the board of directors Charles Bunch (66) will retire on 1 September after 37 years with the company. PPG president and CEO Michael McGarry will become chairman and CEO of the board effective the same day.

Since joining PPG in 1979, Bunch held many important leadership positions throughout the company. Under Bunch’s leadership, PPG accelerated its business transformation, becoming the world’s leading paints and coatings company through strategic actions that focused its business portfolio, and that expanded and strengthened its international presence. During his tenure as chairman and CEO, PPG made more than 30 acquisitions and delivered extraordinary growth and record financial performance.

McGarry (58) has served as PPG president and CEO since September 2015. During his 35 years with PPG, he has served in a variety of key business and functional leadership roles in the US, Europe and Asia. In recent years, he helped lead several strategic actions that have transformed PPG’s business portfolio.

“On behalf of the PPG board of directors, we want to recognize Bunch’s outstanding leadership and strategic vision in guiding PPG through one of the most important and impactful time periods in its 133-year history,” said Hugh Grant, PPG independent lead director and chairman, CEO of Monsanto Company.

“Bunch’s leadership has strengthened PPG’s position and set the company on a solid path for future growth and success. We thank him for his many contributions and wish him the very best,” added Grant.

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