AKRON, Ohio, Aug. 22, 2016 /PRNewswire/ -- A. Schulman,
Inc. (Nasdaq: SHLM), a leading international supplier of
high-performance plastic compounds, powders and resins, today
announced that Gary A. Miller has
been promoted to chief operating officer, effectively immediately.
The Company also announced that Frank
Roederer will become senior vice president and general
manager of the Company's United
States and Canada ("USCAN")
business in addition to his current responsibilities for the
Engineered Composites ("EC")
business.
Miller (69) has served as executive vice president global and
chief procurement officer for A. Schulman since 2008. In this new
role, he will be responsible for the efficiency and effectiveness
of the Company's global operations. A 42-year veteran of The
Goodyear Tire & Rubber Company, Miller earned a bachelor's
degree in chemical engineering from the University of Cincinnati, and has completed the
Advanced Management Program at Harvard
University; the Executive Program at Darden Graduate School
of Business Administration, University of
Virginia; and Kellogg School for Graduate Studies,
Northwestern University.
"Gary is a consummate professional with a proven track record of
driving increased operational quality and cost structure
improvements," said Joseph M. Gingo,
chairman, president and chief executive officer. "He will play a
critical role in restoring A. Schulman's operational and financial
performance worldwide."
Roederer (47) joined A. Schulman in 2013 as the specialty
powders business unit director and has steadily taken on roles of
increasing responsibility. Earlier this year, he was named senior
vice president of the Engineering Composites business. Prior to
joining the Company, he was the general manager of strategic
planning and corporate performance management for SABIC, after
overseeing WR Grace's supply chain in Europe, Middle
East and Asia for three
years. He began his career at The Dow Chemical Company in 1996,
where he held various global leadership positions throughout his
10-year tenure. He holds an operations management and marketing
degree from Fachhochschule Offenburg, and an MBA from Schiller International University.
"Frank is a natural leader and problem solver, who has delivered
impressive results throughout his career," Gingo said. "His energy
and creativity are exactly what we need to take full advantage of
the exciting growth opportunities in our USCAN region."
Miller will report to Gingo and Roederer will report directly to
Miller.
About A. Schulman, Inc.
A. Schulman,
Inc. is a leading international supplier of high-performance
plastic compounds and resins headquartered
in Akron, Ohio. Since 1928, the Company has been
providing innovative solutions to meet its customers' demanding
requirements. The Company's customers span a wide range of markets
such as packaging, mobility, building & construction,
electronics & electrical, agriculture, personal care &
hygiene, sports, leisure & home, custom services and others.
The Company employs approximately 4,900 people and has 57
manufacturing facilities globally. A. Schulman reported
net sales of approximately $2.4 billion for the fiscal
year ended August 31, 2015. Additional information
about A. Schulman can be found at www.aschulman.com.
Cautionary Statements
A number of the matters discussed in this document that are not
historical or current facts deal with potential future
circumstances and developments and constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by
the fact that they do not relate strictly to historic or current
facts and relate to future events and expectations. Forward-looking
statements contain such words as "anticipate," "estimate,"
"expect," "project," "intend," "plan, "believe," and other words
and terms of similar meaning in connection with any discussion of
future operating or financial performance. Forward-looking
statements are based on management's current expectations and
include known and unknown risks, uncertainties and other factors,
many of which management is unable to predict or control, that
could cause actual results, performance or achievements to differ
materially from those expressed or implied in the forward-looking
statements. Important factors that could cause actual results to
differ materially from those suggested by these forward-looking
statements, and that could adversely affect the Company's future
financial performance, include, but are not limited to, the
following:
- worldwide and regional economic, business and political
conditions, including continuing economic uncertainties in some or
all of the Company's major product markets or countries where the
Company has operations;
- the effectiveness of the Company's efforts to improve operating
margins through sales growth, price increases, productivity gains,
and improved purchasing techniques;
- competitive factors, including intense price competition;
- fluctuations in the value of currencies in areas where the
Company operates;
- volatility of prices and availability of the supply of energy
and raw materials that are critical to the manufacture of the
Company's products, particularly plastic resins derived from oil
and natural gas;
- changes in customer demand and requirements;
- effectiveness of the Company to achieve the level of cost
savings, productivity improvements, growth and other benefits
anticipated from acquisitions, joint ventures and restructuring
initiatives;
- escalation in the cost of providing employee health care;
- uncertainties and unanticipated developments regarding
contingencies, such as pending and future litigation and other
claims, including developments that would require increases in our
costs and/or reserves for such contingencies;
- the performance of the global automotive and oil and gas
markets as well as other markets served;
- further adverse changes in economic or industry conditions,
including global supply and demand conditions and prices for
products;
- operating problems with our information systems as a result of
system security failures such as viruses, cyber-attacks or other
causes;
- our current debt position could adversely affect our financial
health and prevent us from fulfilling our financial
obligations;
- integration of acquisitions, including most
recently Citadel, with our existing business, including the
risk that the integration will be more costly or more time
consuming and complex or simply less effective than
anticipated;
- our ability to achieve the anticipated synergies, cost savings
and other benefits from the Citadel acquisition;
- substantial time devoted by management to the integration of
the Citadel acquisition; and
- failure of counterparties to perform under the terms and
conditions of contractual arrangements, including suppliers,
customers, buyers and sellers of a business and other third parties
with which the Company contracts.
The risks and uncertainties identified above are not the only
risks the Company faces. Additional risk factors that could affect
the Company's performance are set forth in the Company's Annual
Report on Form 10-K for the fiscal year ended August 31, 2015.
In addition, risks and uncertainties not presently known to the
Company or that it believes to be immaterial also may adversely
affect the Company. Should any known or unknown risks or
uncertainties develop into actual events, or underlying assumptions
prove inaccurate, these developments could have material adverse
effects on the Company's business, financial condition and results
of operations. We undertake no obligation to publicly update
forward-looking statements, whether as a result of new information,
future events or otherwise. You should consult any further
disclosures which are made on related subjects in our reports on
Form 10-Q, 8-K and 10-K that we provide to the Securities and
Exchange Commission.
SHLM_ALL
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SOURCE A. Schulman, Inc.