For the second time in four months, a high-ranking executive has resigned from compounding leader PolyOne Corp. This time, it's Lance Mitchell, who had led the firm's color and engineered materials unit.
Avon Lake, Ohio-based PolyOne announced Mitchell's resignation Jan. 9, saying he ``resigned to accept a position with another company.'' Mitchell had been with PolyOne and its corporate predecessor Geon Co. since 1989.
Mitchell will be replaced on an interim basis by Rob Binder, sales director for PolyOne's color and additives masterbatch business.
Mitchell's departure follows the early October exit of President and Chief Executive Officer Thomas Waltermire. Former Geon CEO William Patient has replaced Waltermire on an interim basis.
Dennis Cocco, vice president of investor relations and communications, declined to identify the firm Mitchell will join after finishing at PolyOne later this month, but Cocco did say it is not a direct competitor. Industry sources have said Mitchell is taking a job with a major packaging firm.