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
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.