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
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?
