Trinseo (NYSE: TSE), a global materials solutions provider and manufacturer of plastics, latex binders and synthetic rubber, today announced several changes to its executive leadership. The company is eliminating the two divisional president roles and will realign its organization around a global functional structure.
“The shift of our organization to a global functional structure will drive greater focus on business process optimization and efficiency, in conjunction with our successful business services transition from Dow and information technology system separation in the first quarter of 2020,” said Frank Bozich, President and CEO of Trinseo.
Tim Stedman, Senior Vice President and Business President, has been named Senior Vice President, Strategy and Corporate Development, effective October 7, 2019.
Hayati Yarkadas, Senior Vice President and Business President, has elected to step down from his position in order to pursue other opportunities, effective October 2, 2019.
Jeff Denton, Senior Vice President, Strategy Development and Corporate Services, has been named Vice President, Supply Chain Services, effective October 7, 2019.
Tim Thomas, Operations Director, has been named Vice President, Manufacturing and Operational Excellence, effective October 7, 2019.
These roles will report to the CEO and be members of the company’s executive leadership team. A search has been initiated for the role of Senior Vice President, Commercial, which also will report to the CEO. In the interim, the global business units will report to Bozich.
Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. Trinseo had approximately $3.8 billion in net sales with 2,700 employees globally in 2019. For more information, please visit: www.trinseo.com.
This press release may contain “forward-looking statements” including, without limitation, statements concerning plans, objectives, goals, projections, expectations, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. Forward-looking statements may be identified by the use of words like “expect,” “estimate,” “will,” “may,” or expressions of similar meaning. Forward-looking statements reflect management’s evaluation of information currently available and are based on the Company’s current expectations and assumptions regarding the impact from the COVID-19 pandemic, the Company’s business, the economy and other future conditions. Specific factors that could cause future results to differ from those expressed by the forward-looking statements include, but are not limited to, risks related to the ongoing impact of the COVID-19 pandemic and those discussed in the Company’s Annual Report for the year ended December 31, 2019 filed with the Securities and Exchange Commission (“SEC”), in subsequent Quarterly Reports on Form 10-Q and in other filings and furnishings made by the Company with the SEC from time to time. Other unknown or unpredictable factors could also have material adverse effects on the Company’s performance. As a result of these or other factors, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof and are not a guarantee of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.