As it sets off to execute new initiatives following a thorough review of its business following a rough 18-month period, Fairlawn-based A. Schulman Inc. has named former Comcast Cable executive Gary Phillips as its chief commercial officer, the company announced on Wednesday, Dec. 14.
Phillips most recently was vice president and general manager of Comcast Cable in West Palm Beach, Fla., where Schulman said “he and his team of more than 300 sales and support professionals delivered profitable sales and revenues in the commercial marketplace that were consistently in excess of annual target goals.”
Schulman, a plastic compounder that has a strong position in both North America and Europe, hopes Phillips can drive its revenue growth globally.
“Immediate priorities include creating heightened alignment and accountability within the global sales and marketing teams across product families, as well as helping to accelerate the Company’s rejuvenated, customer-centric product innovation initiative,” the company said in announcing Phillips’ hiring.
Schulman has been working hard to improve its financial performance and to bring back the price of its stock – with some success of late — after a series of financial shortfalls connected to its $800 million purchase of Citadel Plastics led to the ouster of CEO Bernard Rzepka and the return of Joseph Gingo, who had led the company from 2008-14.
The company’s stock, which had traded as high as $48 a share in the spring of 2015, sank to below $22 per share this year. Recently, following the reinstallation of Gingo as CEO and a full review of the company’s operations, the company has bounced back. Its stock has recently traded at more than $35 per share.
Though Phillips’ experience is in a different industry, Gingo said his skills should help Schulman.
“Throughout his career, Gary has consistently helped organizations maintain a proper alignment with evolving, highly technical customer needs,” Gingo said in announcing the hire. “His ability to create impactful relationships with colleagues and customers alike will be critical to our success in reinvigorating our growth plan in fiscal 2017 and beyond.”
By Dan Shingler
Source: Crain’s Cleveland Business
Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.
BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.
TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.