Trinseo S.A., formerly known as Styron L.L.C., is realigning its business divisions, creating two new business groups — Performance Materials and Basic Plastics and Feedstocks, and changing roles for some top executives.
“The new alignment better reflects the nature of our businesses,” President and CEO Chris Pappas said. “By grouping together businesses with similar strategies and aspirations, we can manage and operate them more effectively.”
The realignment is aimed at accelerating the growth of the Performance Materials and the Basic Plastics and Feedstock operations, he said.
Trinseo's Performance Materials division includes rubber, latex and performance plastics. The Basic Plastics and Feedstocks consists of styrenic polymers, polycarbonate and styrene monomer.
The realignment also includes changes to Trinseo's executive team.
Martin Pugh, senior vice president and business president for plastics, has been named senior vice president and business president for Performance Materials, with responsibility for rubber, latex and performance plastics (automotive and consumer essential markets).
Jeff Denton, vice president for feedstocks and corporate services, is the new vice president for corporate development and business services.
A new position, senior vice president and business president for Basic Plastics and Feedstocks, is expected to be filled in the first half of 2015. Until then, Denton will be responsible for feedstocks and Pugh will oversee styrenic polymers and polycarbonate.
Ina addition, Curt Shaw, executive vice president, general counsel and corporate secretary, will retire at the end of 2014. He joined the company in 2010 and has been a corporate lawyer for 40 years. The succession process is underway, the company said.
All changes thus far are effective immediately, the company said.
Trinseo previously announced plans to change the name of all Styron affiliated companies to its new name. Some, but not all, have completed the name change process and are now known as Trinseo. Those that have not completed the process, including the firm's operating companies, continue to do business as Styron.
