Cabot announced Monday that Patrick Prevost has stepped down as president and CEO.
The company appointed Sean Keohane, head of Cabot’s reinforced materials segment, to serve as president and CEO and be a member of the board. Prevost had taken temporary medical leave in December 2015 to recover from the effects of a minor stroke.
“I would love to continue to lead this extraordinary organization, but while I continue to focus on my recovery, I am unable to devote the time required to be as effective as I would like,” Prevost says. “It is in the best interest of our employees and our shareholders for me to resign as CEO at this time.” Prevost will continue to be an adviser and director at the company. “Patrick has made significant contributions to Cabot, and under his direction the performance of the company has improved significantly,” says John O’Brien, Cabot’s nonexecutive chairman, “We appreciate Patrick’s commitment to Cabot over the last eight years.”
Keohane joined Cabot in 2002 and has held several key management positions, including senior v.p. and president/performance materials. Prior to joining Cabot, Keohane worked for Pratt & Whitney, a division of United Technologies. “Sean’s experience leading both the reinforcement materials and performance chemicals segments, as well as the company’s commercial excellence initiative, will enable him to be successful in the CEO role,” O’Brien says. “Sean has been a true champion of Cabot, and the board has full confidence in his ability to continue to grow and strengthen Cabot.”
By Robert Westervelt
Source: Chemical Week
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.
