Styron Names Richard J. Diemer Jr. as Executive Vice President and Chief Financial Officer
By Styron, PRNEMonday, August 30, 2010
John Sereda Named Vice President and Treasurer
MIDLAND, Michigan, August 31, 2010 - Styron has announced three new members to the company's executive
leadership. The announcement was made by Chris Pappas, President and Chief
Executive Officer of Styron.
(Logo: www.newscom.com/cgi-bin/prnh/20100618/395738 )
Richard J. Diemer Jr. has been named Executive Vice President and Chief
Financial Officer of Styron. Diemer was previously the Senior Vice President
and CFO of Albemarle Corporation, a $2.5 B specialty chemical company. Celso
Goncalves, who is currently CFO of Styron, will remain with the company
through year-end to ensure a smooth transition.
"We are extremely pleased to name a CFO of the caliber of Rich, who
brings a combination of excellent industry experience, financial and
strategic leadership, and a strong track record serving as CFO of a
NYSE-listed public company," said Chris Pappas, President and CEO of Styron.
"I also want to thank Celso, who has been a highly valued member of our
leadership team and played an instrumental role in the success of forming and
launching Styron over the past 12 months. His personal and professional
contributions to Styron are immeasurable, and we are pleased that he will
stay on with Styron during the transition."
Diemer brings to Styron a 25-plus year track record in strong financial
and strategic leadership. Diemer reports to Pappas, and is a member of the
Styron executive leadership team. Diemer's role is effective September 7.
Prior to joining Styron, Diemer most recently was Senior Vice President and
CFO at Albemarle Corporation, based in Baton Rouge, LA, U.S.A. Diemer joined
Albemarle Corporation in August 2005 and was elected Senior Vice President
and Chief Financial Officer (CFO) effective September 1, 2005. Prior to
joining Albemarle, Diemer served as corporate controller of Honeywell
International (and predecessor Allied-Signal Inc.), Vice President and CFO of
Honeywell's Specialty Materials business, and senior portfolio manager
equities for Honeywell Capital Management. Diemer is a graduate of the
University of Virginia's McIntire School of Commerce and began his business
career with KPMG. Over a 17-year career with KPMG, Diemer spent time in
KPMG's New Jersey practice, executive office and London office and served as
both an audit and SEC reviewing partner.
John Sereda has joined Styron as Vice President and Treasurer with
responsibility for all treasury matters, including cash management, risk
management, relationships with ratings agencies and commercial banks, and
financing. He is a member of the Styron leadership team and reports to
Diemer. Sereda most recently served as Vice President, Finance, and Treasurer
for NOVA Chemicals Corporation, based in Calgary, Alberta and Pittsburgh,
Pennsylvania. Sereda brings to Styron 32 years' experience in banking,
treasury operations, natural gas trading, risk management, and finance. He
attended the University of Saskatchewan and the University of Toronto,
studying economics and banking.
George Osborne joins Styron as Vice President and Controller with
responsibility for all controllership matters, including accounting policy
and application, financial reporting, and internal control. He is a member of
the Styron leadership team and reports to Diemer. Osborne most recently
served as The Dow Chemical Company's Corporate Controller's Director of M&A
and Significant Transactions based in Midland, Michigan. Osborne brings 40
years of multinational accounting and finance experience to Styron. He is a
graduate of Louisiana State University with a B.S. in Accounting.
"We are very pleased to have Rich Diemer, John Sereda and George Osborne
join Styron," said Chris Pappas, President and Chief Executive Officer of
Styron. "These leaders know the materials industry and the business very
well. Their talent and great depth of finance expertise are critical to
continue to drive the growth and performance of our Styron business."
In March 2010, Pappas was named President and CEO of Styron, following
the announcement that The Dow Chemical Company and Bain Capital Partners had
signed a definitive agreement for Dow's Styron Division to be divested to an
affiliate of Bain Capital and become a standalone, privately held company.
Prior to his appointment as President and CEO of Styron, Pappas served as
President and Chief Operating Officer at NOVA Chemicals Corporation. He
started his career with Dow in 1978, holding a variety of positions until
1995. Pappas joined DuPont Dow Elastomers LLC in 1996 and held several
leadership positions there before joining NOVA in 2000.
About Styron
Styron is a leading global materials company, dedicated to innovate and
deliver for its customers. Styron's unique and balanced product portfolio
brings together plastics, rubber and latex businesses that share feedstocks,
operations, customers and end users. Styron has a leadership position in its
two flagship products, polystyrene and latex. The company benefits from
global scale, a long-standing tradition of unrivaled customer relationships
and a robust innovation pipeline. Styron has approximately $3.7 billion in
revenue (based on 2009 data), with 20 manufacturing sites in all geographies.
Styron's 1,900 employees are committed to listen to customers' needs and
provide them with innovative and sustainable solutions in markets such as
appliances, automotive, building & construction, carpet, commercial
transportation, consumer electronics, consumer goods, electrical & lighting,
medical, packaging, paper & paperboard, rubber goods and tires. More
information about Styron can be found at www.styron.com.
For editorial information: Catherine Maxey, Styron LLC, ccmaxey at styron.com, +1-989-636-4506; Inge Boets, Porter Novelli, Inge.boets at porternovelli.be +32-2-413-03-40
Tags: August 31, Michigan, Midland, Styron, United States of America