For the second time in two years, there's going to be a change at the top at engineering resins leader Ticona.
Lyndon Cole will replace Stefan Sommer as president of the firm April 1. Sommer had led the firm since replacing Edward Munoz in January 2002.
Officials at Ticona parent Celanese AG of Frankfurt said Sommer is leaving ``to pursue new responsibilities.''
Sommer had been with Ticona predecessor Hoechst AG from 1988-91 before returning in 1996.
Cole, a native of the United Kingdom, joined Celanese in 2002 after 20 years in the business with Elementis plc, GE Plastics and Dow Chemicals Europe. He most recently served as president of Celanese Chemicals, Celanese's largest unit.
In addition to leading Ticona, Cole was named head of Celanese's new Growth Excellence Council, which will implementing best practices.
Ticona, with U.S. headquarters in Summit, N.J., saw its pretax profit jump 67 percent to 87 million euros ($96.1 million) in 2002, even as sales fell 2 percent to 757 million euros ($836.3 million). On a sales basis, Ticona is the third largest of Celanese's five divisions, accounting for 17 percent of the firm's total.
Ticona is the world's largest acetal maker and also produces nylon, liquid-crystal polymers, polyphenylene sulfide, polybutylene terephthalate and other specialty resins.