Ulsan, South Korea — Maurizio Butti, CEO of South Korea's Songwon Industrial Group, died unexpectedly at age 62, the company said in a Sept. 7 news release.
"The entire Songwon family mourns the sudden loss of our CEO. With the organization since 2006, Maurizio was an inspiring leader, managing the company with humor, integrity and passion," Chairman Jongho Park said.
Butti joined Songwon as the president and CEO of Songwon International AG and member of the Songwon industrial group executive committee in Switzerland in 2006.
He became group chief operating officer in 2011 and was promoted to CEO in March 2016.
As CEO, Butti spearheaded the implementation of all the group's business and day-to-day operating activities. Under his leadership, Songwon advanced into new markets as part of its strategy to become a global player.
Butti held a Master of Science in chemical engineering from the Polytechnic University of Milan and an MBA from the Bocconi University of Milan.
Park will serve as acting CEO while the company works on succession planning.
Based in Ulsan, the company is a global supplier of additives, including PVC stabilizers, antioxidants, intermediates and plasticizers.