Global thermoplastic polyurethane leader Lubrizol Corp. has named company veteran Eric Schnur as chairman, president and CEO.
Schnur has been with Wickliffe, Ohio-based Lubrizol for more than 27 years. He's held the roles of president and chief operating officer since June. Prior to that move, Schnur served as president of the firm's Advanced Materials unit — including TPU — for eight years.
The move was effective Jan. 2. Schnur replaces James Hambrick, who's retiring after a 38-year career with Lubrizol.
“It is a great honor to have this opportunity,” Schnur said in a Jan. 3 news release. “I want to thank James [Hambrick] for all he has done for Lubrizol for the strong foundation he has left upon which we can build and continue to grow the company.”
Hambrick led Lubrizol into the plastics market in 2004 when the firm paid $1.4 billion for TPU maker Noveon International. Financial firm Berkshire Hathaway Inc. — run by legendary investor Warren Buffett — bought Lubrizol in 2011 for $9.7 billion in cash.
Lubrizol also is a major producer of lubricant additives. Total sales for 2015 were $7 billion. The firm employs almost 9,000 worldwide.