Mativ Appoints Shruti Singhal as President and CEO
Mativ Holdings (NYSE: MATV) has announced the appointment of Shruti Singhal as President and Chief Executive Officer, effective immediately. Singhal, who currently serves on Mativ's Board of Directors, succeeds Julie Schertell, who has stepped down from her positions.
Singhal brings extensive experience in leading business transformations, with previous roles as CEO of Galata Chemicals and Chroma Color, along with positions at global companies including DSM, General Cable, and others. The appointment comes as Mativ aims to accelerate execution, reduce costs, improve cash flow, and lower leverage.
The company has already implemented cost-reduction measures, including cutting non-operating costs by over $20 million in 2024. Mativ is launching a comprehensive review of its cost structure to identify additional savings opportunities to enhance profitability.
Mativ Holdings (NYSE: MATV) ha annunciato la nomina di Shruti Singhal come Presidente e Amministratore Delegato, con effetto immediato. Singhal, che attualmente fa parte del Consiglio di Amministrazione di Mativ, succede a Julie Schertell, che si è dimessa dalle sue posizioni.
Singhal porta con sé una vasta esperienza nella guida di trasformazioni aziendali, avendo ricoperto in precedenza il ruolo di CEO di Galata Chemicals e Chroma Color, oltre a posizioni in aziende globali tra cui DSM, General Cable e altre. La nomina arriva mentre Mativ punta ad accelerare l'esecuzione, ridurre i costi, migliorare il flusso di cassa e abbattere l'indebitamento.
L'azienda ha già implementato misure di riduzione dei costi, tra cui il taglio dei costi non operativi di oltre 20 milioni di dollari nel 2024. Mativ sta avviando una revisione completa della sua struttura dei costi per identificare ulteriori opportunità di risparmio per migliorare la redditività.
Mativ Holdings (NYSE: MATV) ha anunciado el nombramiento de Shruti Singhal como Presidente y Director Ejecutivo, con efecto inmediato. Singhal, que actualmente forma parte de la Junta Directiva de Mativ, sucede a Julie Schertell, quien ha renunciado a sus cargos.
Singhal aporta una amplia experiencia en la dirección de transformaciones empresariales, habiendo ocupado anteriormente el cargo de CEO de Galata Chemicals y Chroma Color, además de posiciones en empresas globales como DSM, General Cable y otras. El nombramiento se produce mientras Mativ busca acelerar la ejecución, reducir costos, mejorar el flujo de caja y disminuir el apalancamiento.
La empresa ya ha implementado medidas de reducción de costos, incluyendo la reducción de costos no operativos en más de 20 millones de dólares en 2024. Mativ está llevando a cabo una revisión integral de su estructura de costos para identificar oportunidades adicionales de ahorro que mejoren la rentabilidad.
마티브 홀딩스 (NYSE: MATV)는 슈루티 싱할을 대통령 겸 최고경영자로 즉시 임명했다고 발표했습니다. 현재 마티브 이사회에 있는 싱할은 사임한 줄리 셔텔을 대신합니다.
싱할은 갈라타 케미칼스 및 크로마 컬러의 CEO로 재직한 경험을 포함하여 비즈니스 변화를 이끄는 데 폭넓은 경험을 가지고 있으며, DSM, 제너럴 케이블 등 글로벌 기업에서도 근무했습니다. 이번 임명은 마티브가 실행을 가속화하고, 비용을 절감하며, 현금 흐름을 개선하고, 레버리지를 낮추려는 목표를 가지고 이루어졌습니다.
회사는 이미 비운영 비용을 2024년 2천만 달러 이상 절감하는 등 비용 절감 조치를 시행했습니다. 마티브는 수익성을 높이기 위해 추가적인 절감 기회를 찾기 위해 비용 구조에 대한 종합적인 검토를 시작하고 있습니다.
Mativ Holdings (NYSE: MATV) a annoncé la nomination de Shruti Singhal en tant que Présidente et Directrice Générale, avec effet immédiat. Singhal, qui siège actuellement au Conseil d'Administration de Mativ, succède à Julie Schertell, qui a démissionné de ses fonctions.
Singhal apporte une vaste expérience dans la conduite de transformations d'entreprise, ayant occupé précédemment les postes de PDG de Galata Chemicals et de Chroma Color, ainsi que des postes dans des entreprises mondiales telles que DSM, General Cable et d'autres. Cette nomination intervient alors que Mativ vise à accélérer l'exécution, réduire les coûts, améliorer le flux de trésorerie et diminuer l'endettement.
L'entreprise a déjà mis en œuvre des mesures de réduction des coûts, y compris la réduction des coûts non opérationnels de plus de 20 millions de dollars en 2024. Mativ lance un examen complet de sa structure de coûts pour identifier d'autres opportunités d'économies afin d'améliorer la rentabilité.
Mativ Holdings (NYSE: MATV) hat die Ernennung von Shruti Singhal zur Präsidentin und Geschäftsführerin mit sofortiger Wirkung bekannt gegeben. Singhal, die derzeit im Vorstand von Mativ sitzt, folgt auf Julie Schertell, die von ihren Positionen zurückgetreten ist.
Singhal bringt umfangreiche Erfahrung in der Leitung von Unternehmensumwandlungen mit, nachdem sie zuvor CEO von Galata Chemicals und Chroma Color war und Positionen bei globalen Unternehmen wie DSM, General Cable und anderen innehatte. Die Ernennung erfolgt, während Mativ darauf abzielt, die Ausführung zu beschleunigen, die Kosten zu senken, den Cashflow zu verbessern und die Verschuldung zu reduzieren.
Das Unternehmen hat bereits Maßnahmen zur Kostensenkung umgesetzt, darunter die Reduzierung nicht betrieblicher Kosten um über 20 Millionen Dollar im Jahr 2024. Mativ startet eine umfassende Überprüfung seiner Kostenstruktur, um weitere Einsparmöglichkeiten zur Verbesserung der Rentabilität zu identifizieren.
- Appointment of experienced CEO with proven track record in corporate turnarounds
- Implementation of $20 million cost reduction in non-operating expenses for 2024
- Launch of comprehensive cost structure review for additional savings
- Company requires accelerated turnaround efforts
- Current challenges with cost structure and leverage levels
- Need for improved cash flow and profitability
Singhal, Current Mativ Director, Brings Experience Leading Business Transformations and Strong Operational Execution in the Specialty Materials Industry
Shruti Singhal, President and Chief Executive Officer, Mativ (Photo: Business Wire)
Mr. Singhal brings extensive expertise leading transformations through strong operational and commercial execution, profitability initiatives, and driving innovation. He previously served as CEO of Galata Chemicals and Chroma Color, and has held roles of increasing responsibility at global businesses including DSM, General Cable, Solenis, Ashland, The Dow Chemical Company, Rohm and Haas, Cognis (now BASF) and Henkel.
“Mativ has a strong core business with innovative and differentiated specialty materials products and strategic initiatives in place to enhance profitability and drive growth,” said Dr. Kimberly E. Ritrievi, Chair of the Board of Directors. “We recognize the need to accelerate the pace of execution, lower costs, improve cash flow and reduce leverage. Shruti brings decades of experience leading corporate turnarounds and a track record of driving strong financial and operating performance in global industrial organizations. We are confident Shruti is the right person to drive the business forward with urgency and ensure the Company reaches its full potential.”
Mr. Singhal said, “I am excited by the opportunity to lead Mativ at this important stage for our Company. With an enhanced focus on continuing to execute our strategy and drive operational excellence, supported by a talented global team, we will accelerate our turnaround efforts and position Mativ for improved results and sustainable value creation.”
Dr. Ritrievi continued, “On behalf of the Board, I would like to thank Julie for her leadership and dedication to Mativ since the formation of the Company more than two years ago. As the Company’s first CEO, Julie was instrumental in repositioning the portfolio and implementing cost and footprint reductions to help position Mativ for its next phase of growth. We wish Julie all the best in her future endeavors.”
Ms. Schertell said, “Leading the Mativ team throughout this transformative period has been incredibly rewarding, and I am very proud of all that the team has accomplished over the past few years. I believe Mativ is well-positioned to build on the momentum we have created.”
Mativ has taken a number of recent actions to reduce its cost structure in light of the current operating environment, including reducing non-operating costs by over
About Shruti Singhal
Shruti Singhal most recently served as the President and CEO of Galata Chemicals, a leading producer and supplier of PVC and Polyolefin Additives, serving many industries worldwide. He previously was President and CEO of Chroma Color Corporation (an Arsenal Capital Partners company), a leading formulator, and specialty color and additive concentrates supplier. Prior to joining Chroma Color, Shruti served as President for DSM’s Engineering Materials business from 2018 to 2021.
Throughout his career, he has served in positions of increasing leadership responsibility and led businesses globally across
Prior to his appointment as President and Chief Executive Officer, Shruti served on Mativ’s Board of Directors as the Chair of the Nominating & Governance Committee and also on the Compensation Committee, and he previously served on the Audit Committee.
Mr. Singhal holds an MS degree in Chemical Engineering from Drexel University, a BS in Chemical Engineering and completed the Global Marketing Management Program at The Wharton School at the University of
About Mativ
Mativ Holdings, Inc. is a global leader in specialty materials, solving our customers’ most complex challenges by engineering bold, innovative solutions that connect, protect and purify our world. Headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") that are subject to the safe harbor created by the Act and other legal protections. Forward-looking statements include, without limitation, those regarding the impacts and timing of our ongoing operational excellence and other cost-reduction and cost-optimization initiatives and profitability. These forward-looking statements are prospective in nature and not based on historical facts, but rather on current expectations, and caution is given to investors that any forward-looking statements are not guarantees or indicative of future performance. These forward-looking statements rely on a number of assumptions concerning future events and are subject to risks, uncertainties and other factors, many of which are outside the Company's control and could cause actual results to materially differ from such statements. For a more detailed discussion of these factors, also see the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company's most recent annual report on Form 10-K for the year ended December 31, 2024 and any material updates to these factors contained in any of the Company’s future filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250311297460/en/
Chris Kuepper, IRC
Director, Investor Relations
+1-770-569-4229
Leah Sherman-Jones
Corporate Communications
media@mativ.com
Source: Mativ Holdings, Inc.
FAQ
What cost reduction measures has Mativ (MATV) implemented in 2024?
What is Shruti Singhal's background before joining Mativ (MATV) as CEO?
What are the main priorities for Mativ (MATV) under the new CEO?
Why did Mativ (MATV) change its CEO?
