Geon Performance Solutions, the former Performance Products and Solutions business of PolyOne Corp. that was sold last month to private investment firm SK Capital Partners for $775 million in cash, soon will have a permanent CEO in place.
The company announced in a news release that Tracy Garrison will become CEO in January. He will assume the role now held by Geon's interim CEO, David Mezzanotte, a director of SK Capital.
Garrison comes to Geon having most recently been president and CEO of Hexpol Compounding Americas, a subsidiary of publicly traded Hexpol AB of Sweden. Previously, he spent five years at Rhein Chemie Corp., where he led the company's commercial organization as a vice president of sales and marketing.
"Tracy has a terrific record of driving growth at businesses he has led, most recently at Hexpol Compounding," which operates 20 factories in the United States and Mexico and has more than 2,000 employees, said Jack Norris, managing director of SK Capital, in a statement.
After Garrison begins work as CEO, Mezzanotte "will remain closely involved to support a successful transition and will continue to serve as a member of the company's board of directors," Geon said in its news release.
Geon is headquartered in Avon Lake, Ohio. It has 12 global manufacturing locations.
New York-based SK Capital focuses on the specialty materials, chemicals and pharmaceuticals markets.
PolyOne said last month that it expects to see a pretax gain of $600 million from the sale of the former Performance Products and Solutions business. The sale, announced in August, was completed on Oct. 28.