Orion Engineered Carbons Announces Executive Transition
September 04 2018 - 9:00AM
Business Wire
Jack Clem to Join Board of Directors
Board of Directors Appoints Corning Painter
as Chief Executive Officer
Orion Engineered Carbons S.A. (NYSE:OEC), a worldwide supplier
of specialty and high-performance Carbon Black, today announced
that Jack L. Clem, 65, who has served as CEO since 2011, will
retire from his role. He will be nominated to join the Board of
Directors and during a transition period will act as an advisor to
the company. Corning F. Painter, 55, a longtime senior executive
formerly at Air Products and Chemicals, Inc., was named Chief
Executive Officer. He will also be nominated to join the Board of
Directors.
“It has been my sincere pleasure to work with Jack Clem over the
last several years,” said Dan F. Smith, Chairman of Orion’s Board
of Directors. “Under Jack’s leadership, Orion has firmly
strengthened its position as a world leader in Carbon Black,
establishing a standard for excellence and delivering
industry-leading performance. On behalf of Orion’s Board of
Directors and all of its employees, I want to thank Jack for his
immeasurable contributions and look forward to a continuing,
mutually fruitful relationship as we welcome him to the Board of
Orion.
“At the same time, we are delighted to welcome Corning Painter
to the Orion family. He brings decades of international experience
managing financial and operational performance, delivering
shareholder value, and inspiring teams,” continued Mr. Smith.
Painter, a seasoned senior executive, previously ran Air Products’
$8 billion industrial gas business, the principle business of the
publicly-traded Fortune 250 industrial gas company. He was
identified during a broad executive search process and stood out
because of his track record in the international chemical
industry.
“It is with complete confidence that I transition the role of
chief executive to Corning Painter,” said Clem. “With his deep
technical experience in the chemical industry and his outstanding
functional competence in global businesses, OEC will be
well-positioned to continue its growth as we further penetrate
emerging markets and build on the success of our technical and
specialty capabilities.”
Painter began his career at Air Products in 1984 as part of the
company’s career development program. He rose through the ranks,
progressing through a variety of commercial and operations
positions in the U.S. and overseas, and was rapidly promoted
several times over the last several years, holding leadership
positions in operations, supply chain, corporate strategy and
technology. He held the position of Executive Vice President,
Industrial Gases until he left the company at the end of June,
2018.
“I am excited to join the Orion team,” said Painter. “Orion has
consistently delivered financially, and successfully advanced their
strategy of focusing on more differentiated carbon blacks. I look
forward to building upon this momentum and the strategy that the
Orion team has put in place to deliver results for our shareholders
and employees.”
Painter holds a bachelor’s degree in chemical engineering from
Carnegie Mellon University. A certified professional engineer in
Pennsylvania, until recently he was a member of the Board of
Directors and Treasurer for the International Oxygen Manufacturers
Association, and he serves as Board Chairman for Valley Youth
House, a nonprofit organization that provides access to shelter,
counseling and life skills for more than 30,000 vulnerable and
homeless young people at more than 250 sites in Pennsylvania.
The appointment of Messrs. Clem and Painter to the Board of
Directors is subject to approval by shareholders in an
extraordinary general meeting to be convened for this purpose on
October 16, 2018.
Orion is a worldwide supplier of Carbon Black. We produce a
broad range of Carbon Blacks that include high-performance
Specialty Gas Blacks, Furnace Blacks, Lamp Blacks, Thermal Blacks
and other Carbon Blacks that tint, colorize and enhance the
performance of polymers, plastics, paints and coatings, inks and
toners, textile fibers, adhesives and sealants, tires, and
mechanical rubber goods such as automotive belts and hoses. Orion
runs 13 global production sites and four Applied Technology
Centers. The group has approximately 1,426 employees worldwide. For
more information, please visit our website
www.orioncarbons.com.
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IROrion Engineered Carbons
S.A.Investor RelationsDiana Downey, +1
832-589-2285Investor-Relations@orioncarbons.comorMediaJames McCusker, +1 203-428-3217
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