Tom Debusschere stepped down from his position as CEO of PVC profile manufacturer Deceuninck on March 1 “to take up a new challenge,” but he will remain a non-executive member of the board until May 10, according to the Belgium-based company.
Francis Van Eeckhout, who is vice chairman of the board, was named interim CEO and the “strategy for growth continues unabated,” the company announced in a news release about its 2015 earnings.
Board Chairman Pierre Alain Baron de Smedt said he respects Debusschere's decision and is grateful for his work in the last seven years.
“In February 2009 he started as CEO when the company was going through a difficult period,” the chairman said in a press release. “In a short period of time he succeeded in turning Deceuninck into a financially healthy company and in regaining the confidence of the shareholder. He leaves us with a healthy company that is well positioned for the future.”
Deceuninck saw solid growth in 2015 with sales up 16.6 percent to $721.4 million. Positive economic conditions in all regions, particularly the U.S., United Kingdom and Europe, fueled the growth and offset lagging sales in Russia, the company said.
“2015 was a good year for Deceuninck,” Debusschere said in a news release. “We realized strong organic volume growth in western Europe, North America and Turkey and emerging markets, and successfully integrated the Pimas acquisition in Turkey.”
Manufacturing efficiencies and “strict” cost control helped the bottom line, too, he added.
Van Eeckhout also credited Debusschere with being instrumental in the company's growth strategy.
“This includes the construction of new factories in Turkey and the U.S.,” he said. “The strategy will be continued. Tom has built a strong management team in which we maintain every confidence. We hope to name a successor to Tom very soon.”
