Stepan Company announced today that F. Quinn Stepan, the Chairman of the Company, will retire from the position of Chairman effective as of December 31, 2016.
Mr. Stepan has served as Chairman since 1984, and previously served as Chief Executive Officer of the Company from November 1984 to December 2005. The Board of Directors unanimously appointed F. Quinn Stepan, Jr., the Company’s President and CEO and a director, to succeed Mr. Stepan as Chairman, effective upon his retirement. Mr. Stepan will continue to serve as a member of the Board of Directors. The Company also announced that Edward J. Wehmer will serve as Lead Independent Director, effective upon Mr. Stepan’s retirement.
“My father’s incredible passion for Stepan Company over the past 55 years has been instrumental to our Company’s profitable growth and expansion,” said F. Quinn Stepan, Jr., President and Chief Executive Officer. “Working with Stepan employees throughout the world to provide innovative solutions for customers and to build a global manufacturing network to deliver them, my father generated significant value for our shareholders. We are grateful for his leadership and his contributions to our past and future growth.”
Source: Stepan
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