Quaker Houghton Announces CFO Transition
Quaker Houghton announced the appointment of Tom Coler as the new CFO effective June 10, 2024, succeeding Shane Hostetter. Coler brings extensive financial experience from global companies across various industries. Hostetter will remain until August 4, 2024, to ensure a smooth transition. CEO Andy Tometich praised Coler's financial expertise and leadership skills, expressing confidence in his ability to drive growth and create long-term shareholder value.
The appointment of Tom Coler, an experienced financial executive, is expected to bring in fresh insights and drive growth for Quaker Houghton.
Mr. Coler's track record of driving growth and enhancing productivity at global public companies across multiple industries indicates a potential positive impact on Quaker Houghton's financial performance.
CEO Andy Tometich's confidence in Tom Coler's ability to accelerate growth and generate long-term shareholder value reflects a positive outlook on the company's future under Coler's leadership.
The departure of Shane Hostetter, who has held the CFO role since 2021, may lead to a period of adjustment within the company as the transition to a new CFO takes place.
While Shane Hostetter has contributed significantly to Quaker Houghton's financial foundation and strategic initiatives during his 13-year tenure, his departure could potentially impact the company's operations in the short term.
The departure of an experienced CFO like Shane Hostetter raises concerns about how effectively the new CFO, Tom Coler, will be able to fill his shoes and navigate the financial landscape of the company.
Andy Tometich, Chief Executive Officer and President, commented, "Tom is an experienced financial executive with expertise in driving growth and leading transformation. He has demonstrated success as a CFO as well as in various financial leadership roles at both public and private companies. I am confident Tom will be an excellent partner to build on the momentum in our business, accelerate our growth and continue to generate long-term shareholder value."
Mr. Tometich added, "On behalf of the Board of Directors and management team, I want to thank Shane for his meaningful contributions which have benefitted all aspects of our business throughout his 13-year tenure with the Company. While at Quaker Houghton, Shane has improved our strong financial foundation, advanced our strategic initiatives, and helped to further unlock our growth potential. We wish him continued success in his future endeavors."
Mr. Coler brings extensive experience in corporate finance, financial planning and analysis, corporate development, integration, transformation and implementing information technology solutions. He has a proven track record driving growth and enhancing productivity at global public companies across multiple industries. Currently, Mr. Coler is Executive Vice President and Chief Financial Officer at Savage Companies, a privately held global supply chain and logistics service provider, a position he has held since October 2022. Prior to joining Savage Companies, Mr. Coler served as Vice President, Finance for the Health, Hygiene & Consumables business unit from 2019-2022 and Vice President, Corporate Finance from 2017-2019 at H.B. Fuller Corporation. Previously, he served as Vice President, Finance for Polaris Industries from 2015 to 2017 and Senior Director, Finance from 2012 to 2015. Prior, Mr. Coler held various leadership positions within the finance organizations at Ecolab Corporation and Boston Scientific. Mr. Coler is a Certified Public Accountant (CPA) and Chartered Financial Analyst (CFA).
About Quaker Houghton
Quaker Houghton is the global leader in industrial process fluids. With a presence around the world, including operations in over 25 countries, our customers include thousands of the world's most advanced and specialized steel, aluminum, automotive, aerospace, offshore, container, mining, and metalworking companies. Our high-performing, innovative and sustainable solutions are backed by best-in-class technology, deep process knowledge and customized services. With approximately 4,400 employees, including chemists, engineers and industry experts, we partner with our customers to improve their operations so they can run even more efficiently, even more effectively, whatever comes next. Quaker Houghton is headquartered in
View original content to download multimedia:https://www.prnewswire.com/news-releases/quaker-houghton-announces-cfo-transition-302141138.html
SOURCE Quaker Houghton
FAQ
Who is the new CFO of Quaker Houghton?
The new CFO of Quaker Houghton is Tom Coler, who will assume the position effective June 10, 2024.
What is Shane Hostetter's current role at Quaker Houghton?
Shane Hostetter has been the Chief Financial Officer at Quaker Houghton since 2021, but he will be leaving the company to pursue other opportunities.
How long has Shane Hostetter been with Quaker Houghton?
Shane Hostetter has been with Quaker Houghton for 13 years, contributing significantly to the company's financial foundation and strategic initiatives.
What is Tom Coler's background and experience?
Tom Coler has extensive experience in corporate finance, financial planning and analysis, corporate development, integration, and implementing information technology solutions. He has held various financial leadership positions at global public companies across multiple industries.
What are the expectations from Tom Coler as the new CFO?
Tom Coler is expected to drive growth, enhance productivity, and generate long-term shareholder value for Quaker Houghton under the leadership of CEO Andy Tometich.
