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.”
Source: Grace
The total contract value is approximately €430 million. The project scope of work entails complete engineering services, equipment and material supply, installation and construction activities and, as an optional part of the scope, commissioning and start up.
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