W. R. Grace & Co. today announced the members of the Board of Directors of GCP Applied Technologies Inc., the new independent publicly traded company to be formed by the planned spin-off of Grace’s Construction Products business segment and Darex Packaging Technologies business.
The new Board is expected to be elected upon the completion of the spin-off, planned for the first quarter of 2016.
When GCP Applied Technologies begins operations upon completion of the separation, its Board of Directors will include three independent members of the current Grace Board. The three are Ronald C. Cambre, retired Chairman of the Board and Chief Executive Officer of Newmont Mining Corporation, who will chair the GCP Board; Marye Anne Fox, Ph.D., Chancellor Emeritus and Distinguished Professor of Chemistry and Biotechnology at the University of California San Diego (UCSD); and Janice K. Henry, former Senior Vice President, Treasurer, and Chief Financial Officer of Martin Marietta Materials, Inc. All three will continue to serve on the Grace Board until the completion of the spin-off.
Other new, independent GCP Directors will be Marcia J. Avedon, Ph. D., Senior Vice President of Human Resources, Communications, and Corporate Affairs for Ingersoll Rand; Phillip J. Mason, former President, EMEA Sector at Ecolab, Inc.; Elizabeth (Beth) Mora, Chief Financial Officer and Vice President of Finance and Administration, and Treasurer for the Charles Stark Draper Laboratory in Cambridge, MA; and Danny R. Shepherd, former Vice Chairman of Vulcan Materials Company.
Grace’s President and Chief Operating Officer Gregory E. Poling, who will become GCP’s President and Chief Executive Officer when the spin-off occurs, also will serve on its Board.
“Shareholders can have confidence that the individuals on this Board bring an exceptional blend of talent, experience, and integrity to GCP Applied Technologies,” said Poling. “The mix of new directors with directors from the current Grace Board provides continuity as well as important fresh perspectives to ensure strong and accountable governance.”
During a European Industry Summit held on the site of BASF in Antwerp, leaders from basic industry sectors, representing 7.8 million workers in Europe, joined forces with European trade unions and European leaders to address pressing concerns regarding Europe’s industrial landscape.
The use of blue or low-carbon hydrogen, made from natural gas with carbon capture and storage (CCS), could increase near-term global warming by 50% compared with burning fossil fuels directly for energy if emissions are not properly managed, according to a new study by NGO the US Environmental Defense Fund (EDF) and the University of Arizona.
In a move to improve the supply of renewable hydrogen and thus reduce dependence on natural gas and contribute to achieving the objectives of the European Green Deal and the REPowerEU plan, the EU Commission has approved a third Important project of common European interest (IPCEI) to support hydrogen infrastructure.