Diversey Announces Two New Members to its Board of Directors

Rhea-AI Summary

Diversey Holdings, Ltd. (NASDAQ: DSEY) announced the appointment of Selim Bassoul as chairman and Juan R. Figuereo to its board of directors, effective March 25, 2021. These additions expand the board to nine members. Bassoul, with a strong background in foodservice and hospitality, previously led The Middleby Corporation, significantly scaling its revenue and acquisitions. Figuereo brings extensive financial management experience from various industries, having served at Western Alliance Bancorp and Revlon. The company aims for continued growth and margin expansion with this strengthened leadership.

Positive

• Appointment of Selim Bassoul as chairman brings extensive experience in foodservice and M&A.
• Juan R. Figuereo's financial management expertise supports Diversey's growth strategy.

Negative

• None.

FORT MILL, S.C., April 20, 2021 (GLOBE NEWSWIRE) -- Diversey Holdings, Ltd. (NASDAQ: DSEY) has appointed Selim Bassoul and Juan R. Figuereo to the company’s board of directors, effective March 25, 2021, following the public listing. Mr. Bassoul will serve as chairman of Diversey’s board. These appointments will bring the total number of directors to nine.

“We are pleased to welcome Selim and Juan to our board. Selim brings extensive experience in the foodservice and hospitality sectors with an impressive track record for customer centric growth, margin expansion, and M&A. Juan brings deep financial and general management experience across several industry sectors and regions with a solid track record driving strategic profitable growth. I strongly believe they will help position Diversey for continued success,” said Phil Wieland, chief executive officer of Diversey Holdings, Ltd.     

Mr. Bassoul was the chief executive officer and chairman of the board of directors at The Middleby Corporation from January 2001 until his retirement in February 2019. Under his leadership, Middleby grew revenue from $100 million to $2.7 billion, expanded the operating margin from 12% to 20%, and completed 84 acquisitions. During his tenure as CEO, Selim delivered a 38% compounded annual return for shareholders which was top decile performance. He has served as a director and the non-executive chairman of the board of directors of Six Flags Entertainment Corporation since February 2020. 

“I am excited to join the Diversey team,” said Mr. Bassoul “Diversey has a strong leadership position in a large and advantaged industry with an innovative product portfolio, massive M&A opportunity, and strong team to execute.”

Mr. Figuereo is currently a director and member of the audit and finance & investment committees at Western Alliance Bancorp and also serves as a director and chair of the audit committee at Decker Brands. In addition, Mr. Figuereo was a director and chair of the audit committee at PVH Corp. from 2011 to 2020. Previously Mr. Figuereo served as the executive vice president and chief financial officer of Revlon, Inc. from 2016 to 2017. Prior to that, Mr. Figuereo served in numerous executive financial roles and senior management positions across a broad range of industries.

“Diversey is well positioned to continue to execute on a clear, multifaceted growth and margin expansion plan and I am excited to be part of the journey” said Mr. Figuereo.

About Diversey
Diversey’s mission is to protect and care for people through leading hygiene, infection prevention, and cleaning solutions. We develop and deliver innovative products, services, and technologies that save lives and protect our environment. Over the course of 95 years, the Diversey brand has become synonymous with product quality, service, and innovation.

For more information, visit www.diversey.com or follow us on LinkedIn, Facebook, or Twitter @diversey. 

Diversey Holdings, Ltd.
Media Contact:
Vani Chokra
mediarelations@diversey.com

Investor Contact:
Grant Graver
ir@diversey.com

FAQ

What is the significance of Selim Bassoul's appointment at Diversey Holdings?

Selim Bassoul's appointment as chairman is significant due to his extensive experience in foodservice and M&A, which is expected to drive growth for Diversey Holdings.

What experience does Juan R. Figuereo bring to Diversey's board?

Juan R. Figuereo brings deep financial management experience from roles at Western Alliance Bancorp and Revlon, which enhances Diversey's leadership team.

How does the new board composition affect Diversey Holdings?

The new board composition, now totaling nine members, is expected to strengthen strategic decision-making and support Diversey's growth and margin expansion plans.

When were the new board members appointed to Diversey Holdings?

Selim Bassoul and Juan R. Figuereo were appointed to Diversey Holdings' board of directors effective March 25, 2021.