Custom injection molder Plastic Components Inc. has named Derrill Rice president and CEO.
The move, announced Sept. 14, follows the purchase of PCI in March by Cleveland-based private equity firm MPE Partners from founder and former CEO Tom Duffey, who remains as an adviser to the board of directors.
Rice comes to PCI after serving as president and general manager of TE Connectivity Ltd.'s aerospace, defense and marine division. He also has held executive positions with International Textile Group; Interface Inc., a textile and flooring manufacturer; and textile manufacturer Milliken & Co.
In a telephone interview, Rice said he left TE Connectivity at the end of 2016 and spent a few months thinking about the next step in his career, and working on the family business, a vineyard and winery in Elkin, N.C.
Rice, 56, comes from running a $1.2 billion unit at TE Connectivity to PCI, a small injection molder based in Germantown, Wis.
"It is just as challenging. It's just a different set of challenges," he said. "Both are exciting in their own ways."
Rice said managing a large multinational company is like piloting an aircraft carrier. Leading a small entrepreneurial organization means you have to wear lots of hats.
"What excites me most about joining PCI is the opportunity to become a member of such a strong team, along with the company's great growth potential," Rice said. The company's engineering plastic components go to diverse markets, and the business continues to expand, he said.
PCI Chairman Peter Taft said Rice's broad experience is valuable. "Derrill's passion for our mission, appreciation for discovering and implementing the most innovative processes, and global business experience makes him uniquely qualified to lead PCI during this transformative and exciting time for the company," Taft said.
PCI won Plastics News' Processor of the Year Award in 2008, and in 2015, earned the newspaper's Sustained Excellence Award.
