Sector News

(RTTNews) – Shares of Synthomer Plc (SYNT.L) gained around 3 percent in London trading after the Specialty chemical company announced Tuesday that it has appointed Calum MacLean as Group Chief Executive.

 

He will join the Synthomer Board in early January 2015 and succeed Adrian Whitfield who announced in July that he would stand down after eight years as Chief Executive. Adrian will stay on to help with a handover process.

 

MacLean joins from INEOS Group, where he is a senior Board executive and was a founder member of the business in 1998. He is currently Executive Chairman of INEOS Olefins and Polymers Europe. MacLean is also Chairman of Styrolution, INEOS’s joint venture with BASF, and Petroineos Refining, INEOS’s joint venture with PetroChina.

 

Previously, he spent 6 years at International Speciality Chemicals or Inspec, which was originally formed through a management buyout of BP Chemicals. MacLean said, “Having spent nearly seventeen years at the heart of one of the UK’s most successful chemical companies, I am enormously excited about a fresh challenge as Synthomer’s new Chief Executive. The business offers exciting opportunities for future growth and I look forward to working with the team and taking the business forward.” In London, Synthomer shares were gaining 6.20 pence or 3.08 percent, and trading at 207.20 pence.