Hilliard, Ohio — Joseph Chlapaty, a top executive at major pipe extruder Advanced Drainage Systems Inc. since 1980, plans to retire by the end of the year.
Hilliard-based ADS, which is publicly traded on the New York Stock Exchange, announced the move March 7.
Chlapaty is chairman, president and CEO of the company, which is the second largest pipe extruder in North America, according to Plastics News data. The company has named a search committee and hired a recruiting firm, and Chlapaty will remain at ADS through the search process.
“It has been my honor and privilege to have served ADS over the past 37 years,” Chlapaty said in a news release. “As I journey towards my 72nd birthday and look to the bright future of ADS, I believe the timing is right to begin planning for new leadership for our company.”
Under Chlapaty's tenure, ADS has grown from a private company with $50 million in sales to one of the industry's leading players, with sales exceeding $1.2 billion.
The company was founded in 1966, and Chlapaty joined in 1980 as vice president and chief financial officer. He eventually succeeded one of his mentors, Frank Eck, in the top position; Chlapaty was named president in 1994, CEO in 2004 and chairman in 2008.
During Chlapaty's tenure ADS made a major acquisition in 2005 when it bought Hancor Inc. That deal combined the two largest players in large-diameter, high density polyethylene, corrugated drainage pipe.
Chlapaty plans to maintain a significant ownership position in ADS.
Chlapaty holds a bachelor's degree from the University of Dubuque — a school he has donated millions of dollars to over the years — and an MBA from DePaul University.