Cabot president and CEO Patrick Prevost will take a medical leave of absence to recover from a minor stroke, the company says. Prevost expects to resume CEO duties in January.
An interim office of the CEO will take up CEO duties during Prevost’s absence. The office includes executive v.p. and CFO Eduardo Cordeiro, senior v.p. and general counsel Brian Berube, executive v.p. and president/reinforcement materials Sean Keohane, and executive v.p. and president/performance chemicals and specialty fluids Nicholas Cross. The CEO office will report to the board with oversight provided by non-executive chairman John O’Brien, Cabot said in a regulatory filing.
“Patrick has the full support of the board, and we wish him a speedy recovery,” O’Brien says. “While Patrick is recovering, I will be working closely with the CEO Office. I am confident that they will ensure the continued execution of the operational objectives that have been set for fiscal 2016 as well as the company’s strategic initiatives.”
Prevost, who was named Cabot CEO in 2008, intends to interact with the interim CEO office during his leave. “It is in Cabot’s best interest, and mine, that I focus on my health during my leave of absence,” Prevost said. “I look forward to fully re-engaging with the business in the near future.”
By Vincent Valk
Source: Chemical Week
Elastomers are special polymers with high elasticity. Affinity RE is one of the first bio-based, high-performance polyolefin elastomers on the market, Dow indicates.
OMV AG (Vienna, Austria) and Kommunalkredit Austria AG (Kommunalkredit) have announced a joint investment in the construction of Austria’s largest electrolysis plant in the OMV Schwechat Refinery.
U.S. chemicals maker Dow Inc has put German infrastructure assets up for sale in a potential 800 million euro ($966 million) deal as it seeks cash for investment elsewhere, sources close to the matter told Reuters.
