Miami Lakes, Fla.-based National Molding LLC named Paul Frascoia its new president and CEO, effective June 1, following four years serving on the board of the company.
Interim CEO Pat Cavanaugh, who took over for former CEO Tom Linton in December, will step down but retain his position as chairman, Sue Milo, health care business manager for National Molding confirmed.
"I've known [Frascoia] for a long time," Cavanaugh told Plastics News. "He's a good operator.
"We interviewed a number of candidates and [Frascoia] came forward and said, 'There's a lot of opportunity here; I'm excited about what you guys are doing. I'd like to be the CEO. Can I put my name in the hat,'" Cavanaugh said. "I said absolutely and the board decided pretty quickly he was the guy. And I'm excited to go back to being just chairman."
Before joining National Molding, Frascoia served as president and CEO of the Critical Process Systems Group, a conglomerate of manufacturing, engineering and design companies and predecessor entities since 2007 and president since 2001, an emailed statement by National Molding said.
"During Frascoia's tenure the CPS Group dramatically grew its revenue and technological leadership position in sophisticated critical process equipment and design through organic strategy execution and a focus on trusted partner relationships with customers," the statement said. "Frascoia also oversaw five acquisitions, a successful startup and a divestment of a noncore operation and dramatically grew the Asian market share of key brands."