Chris Pappas, President and CEO of Trinseo, has announced the following leadership changes, effective November 1, 2015.
Martin Pugh, Senior Vice President and Business President for Performance Materials, has been named Executive Vice President and Chief Operating Officer (COO) of Trinseo. In this newly created interim role, Pugh will elevate his focus to stimulate and support cross-business optimization initiatives and lead, mentor and partner with the new Business Presidents on key strategic business issues.
“We are establishing the COO position as an interim role driven by the complex set of activities we are now committed to at Trinseo, which must be integrated into our businesses,” said Pappas. “These include the changes in executive leadership of our businesses, changes in supply chain structure, installing a new ERP system, as well as becoming SOX compliant across our business processes. All of this activity, plus our ability to now focus on various strategic initiatives, creates this interim COO role. Martin is the ideal executive to partner with others on the executive team to ensure success across this array of activities.”
In addition, two new executives are joining the company as Senior Vice Presidents and Business Presidents, reporting to Pugh.
Tim Stedman will join Trinseo as Senior Vice President and Business President, Basic Plastics and Feedstocks. Reporting to Stedman are: Mike Cromack, Francesca Reverberi, Frans Kempenaars, and Yasunobu Ida. Stedman was most recently Business Director, Basic Chemicals, at ExxonMobil Chemical. During his 22-year career at ExxonMobil Chemical, Stedman worked in manufacturing, commercial, product management, strategy development and global business leadership, including assignments in Belgium, the U.S. and the U.K. He has a bachelor’s degree in Chemical Engineering from University of Manchester Institute of Science and Technology. Stedman will join the Executive Leadership Team (ELT) and be based in Horgen, Switzerland.
Hayati Yarkadas will join Trinseo as Senior Vice President and Business President, Performance Materials. Reporting to Yarkadas are: Samer Al Jabi, Jan Muller, Dagmar Van Heur, Christian Page, Tim Thomas, and Ralf Irmert. Yarkadas was most recently Senior Vice President and General Manager, Europe, for Tate & Lyle. Prior to that, he worked for DuPont in a series of sales and marketing manager roles, and later was Global Business Director for Advanced Glass Interlayers, and General Manager of the DuPont Teijin Films joint venture. He has a master’s degree in Mechanical Engineering from Istanbul Technical University, and an MBA from Imperial College London. Yarkadas will join the Executive Leadership Team (ELT) and be based in Horgen, Switzerland.
“The additions of Hayati Yarkadas and Tim Stedman to our executive leadership team will add tremendous experience and industry knowledge,” said Pappas. “As Trinseo continues to mature as a public company, these moves are consistent with our continued emphasis on governance and succession planning as we add depth to our executive leadership team.”
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.