AdvanSix (NYSE: ASIX), a diversified chemistry company,
announced today the appointment of Sidd Manjeshwar as Senior Vice
President and Chief Financial Officer, effective October 1st. In
this role, Mr. Manjeshwar will have global responsibility for
controllership, treasury, investor relations, procurement, internal
audit, commercial finance, tax and financial planning and analysis
for the enterprise. Mr. Manjeshwar will report directly to Erin
Kane, President and CEO of AdvanSix, and be a member of the
Company’s executive leadership team.
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Sidd Manjeshwar, incoming SVP and CFO,
AdvanSix (Photo: Business Wire)
“We are thrilled to welcome Sidd to AdvanSix and look forward to
adding his expertise as we continue to accelerate into our next
chapter as a diversified chemistry company,” said Erin Kane,
President and CEO of AdvanSix. “Sidd’s proven track record of
establishing corporate and financial strategies that accelerate
growth and profitability makes him well positioned to play a
leading role in advancing our strategic priorities to deliver
long-term, sustainable shareholder value.”
Mr. Manjeshwar most recently served as Vice President, Corporate
Treasurer and Investor Relations at Air Products and Chemicals,
Inc. He has more than twenty-five years of experience in investment
banking and corporate leadership roles, including as Chief
Financial Officer at FirstLight Power with responsibility for
strategic and financial functions. He has also served as Vice
President, Corporate Finance and M&A, and Treasurer at Dynegy
Inc. and in investment banking roles at Deutsche Bank, Barclays
Capital, and Lehman Brothers. He holds a B.E. in Electronics from
the University of Mumbai, an M.S. in Computer Science from James
Madison University and an MBA from The McDonough School of Business
at Georgetown University.
“AdvanSix is in an exciting stage of transformation, and I am
honored to join the team at this pivotal time,” said Mr.
Manjeshwar. “AdvanSix offers a compelling investment thesis and its
diverse product portfolio is well positioned to meet its current
and future customer needs. I am looking forward to joining the
AdvanSix leadership team to drive accelerated profitable growth in
support of the company’s long-term, sustainable performance.”
Earlier this year, Michael Preston announced his anticipated
retirement as Senior Vice President and Chief Financial Officer. As
part of the company’s succession plan, starting October 1st, Mr.
Preston will serve in an advisory role through year-end 2024 with
the executive team to facilitate a smooth transition of his
responsibilities to Mr. Manjeshwar.
“Mike has made significant contributions to the success of
AdvanSix as our founding CFO importantly establishing the critical
finance, procurement and supply chain functions to meet our
compliance and reporting requirements as a public company at spin.
Throughout his nearly twenty-five year tenure at AdvanSix,
including at our predecessor company, Mike has been widely admired
and respected among our teammates, stockholders and all of our key
stakeholders. On behalf of the entire organization, we express our
gratitude for Mike’s leadership, service and invaluable
contributions to AdvanSix. We wish him well on his retirement,”
said Kane.
About AdvanSix
AdvanSix is a diversified chemistry company that produces
essential materials for our customers in a wide variety of end
markets and applications that touch people’s lives. Our integrated
value chain of our five U.S.-based manufacturing facilities plays a
critical role in global supply chains and enables us to innovate
and deliver essential products for our customers across building
and construction, fertilizers, agrochemicals, plastics, solvents,
packaging, paints, coatings, adhesives, electronics and other end
markets. Guided by our core values of Safety, Integrity,
Accountability and Respect, AdvanSix strives to deliver
best-in-class customer experiences and differentiated products in
the industries of nylon solutions, plant nutrients, and chemical
intermediates. More information on AdvanSix can be found at
http://www.advansix.com.
Forward Looking Statements
This release contains certain statements that may be deemed
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, that address activities,
events or developments that our management intends, expects,
projects, believes or anticipates will or may occur in the future
are forward-looking statements. Forward-looking statements may be
identified by words such as "expect," "anticipate," "estimate,"
“outlook,” "project," "strategy," "intend," "plan," "target,"
"goal," "may," "will," "should" and "believe" and other variations
or similar terminology and expressions. Although we believe
forward-looking statements are based upon reasonable assumptions,
such statements involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control and difficult
to predict, which may cause the actual results or performance of
the Company to be materially different from any future results or
performance expressed or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to: general economic and financial conditions in the U.S.
and globally; the potential effects of inflationary pressures,
labor market shortages and supply chain issues; instability or
volatility in financial markets or other unfavorable economic or
business conditions caused by geopolitical concerns, including as a
result of the conflict between Russia and Ukraine, the conflict in
Israel and Gaza, and the possible expansion of such conflicts; the
effect of the foregoing on our customers’ demand for our products
and our suppliers’ ability to manufacture and deliver our raw
materials, including implications of reduced refinery utilization
in the U.S.; our ability to sell and provide our goods and
services; the ability of our customers to pay for our products; any
closures of our and our customers’ offices and facilities; risks
associated with increased phishing, compromised business emails and
other cybersecurity attacks, data privacy incidents and disruptions
to our technology infrastructure; risks associated with operating
with a reduced workforce; risks associated with our indebtedness
including compliance with financial and restrictive covenants, and
our ability to access capital on reasonable terms, at a reasonable
cost, or at all, due to economic conditions or otherwise; the
impact of scheduled turnarounds and significant unplanned downtime
and interruptions of production or logistics operations as a result
of mechanical issues or other unanticipated events such as fires,
severe weather conditions, natural disasters, pandemics and
geopolitical conflicts and related events; price fluctuations, cost
increases and supply of raw materials; our operations and growth
projects requiring substantial capital; growth rates and
cyclicality of the industries we serve including global changes in
supply and demand; failure to develop and commercialize new
products or technologies; loss of significant customer
relationships; adverse trade and tax policies; extensive
environmental, health and safety laws that apply to our operations;
hazards associated with chemical manufacturing, storage and
transportation; litigation associated with chemical manufacturing
and our business operations generally; inability to acquire and
integrate businesses, assets, products or technologies; protection
of our intellectual property and proprietary information; prolonged
work stoppages as a result of labor difficulties or otherwise;
failure to maintain effective internal controls; our ability to
declare and pay quarterly cash dividends and the amounts and timing
of any future dividends; our ability to repurchase our common stock
and the amount and timing of any future repurchases; disruptions in
supply chain, transportation and logistics; potential for
uncertainty regarding qualification for tax treatment of our
spin-off; fluctuations in our stock price; and changes in laws or
regulations applicable to our business. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Such forward-looking
statements are not guarantees of future performance, and actual
results, developments and business decisions may differ from those
envisaged by such forward-looking statements. We identify the
principal risks and uncertainties that affect our performance in
our filings with the Securities and Exchange Commission (SEC),
including the risk factors in Part 1, Item 1A of our Annual Report
on Form 10-K for the year ended December 31, 2023, as updated in
subsequent reports filed with the SEC.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240911629335/en/
Media Janeen Lawlor (973) 526-1615
Janeen.lawlor@advansix.com
Investors Adam Kressel (973) 526-1700
adam.kressel@advansix.com
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