Stepan Promotes Luis E. Rojo to President and Chief Executive Officer
Stepan Company (NYSE: SCL) has appointed Luis E. Rojo as President and Chief Executive Officer and Board member, effective immediately. Rojo, who previously served as Vice President and CFO since April 2018, replaces Scott R. Behrens after his 31-year career with the company. Samuel S. Hinrichsen, currently Global Director of Finance, will serve as Vice President and Interim CFO while the company conducts a search for a permanent replacement.
Rojo brings 21 years of experience from Procter & Gamble Co. with expertise in finance, strategic planning, and operational management. The company emphasizes this appointment reflects its commitment to driving long-term strategic value for shareholders through profitable growth and operational excellence.
Stepan Company (NYSE: SCL) ha nominato Luis E. Rojo come Presidente e Amministratore Delegato, nonché membro del Consiglio, con effetto immediato. Rojo, che in precedenza ha ricoperto il ruolo di Vice Presidente e CFO dal aprile 2018, sostituisce Scott R. Behrens dopo una carriera di 31 anni nell'azienda. Samuel S. Hinrichsen, attualmente Direttore Globale delle Finanze, assumerà il ruolo di Vice Presidente e CFO ad interim mentre l'azienda conduce una ricerca per un sostituto permanente.
Rojo porta con sé 21 anni di esperienza in Procter & Gamble Co., con competenze in finanza, pianificazione strategica e gestione operativa. L'azienda sottolinea che questa nomina riflette il suo impegno a guidare un valore strategico a lungo termine per gli azionisti attraverso una crescita profittevole e l'eccellenza operativa.
Stepan Company (NYSE: SCL) ha nombrado a Luis E. Rojo como Presidente y Director Ejecutivo, así como miembro de la Junta, con efecto inmediato. Rojo, quien anteriormente se desempeñó como Vicepresidente y CFO desde abril de 2018, reemplaza a Scott R. Behrens tras su carrera de 31 años en la empresa. Samuel S. Hinrichsen, actualmente Director Global de Finanzas, asumirá el cargo de Vicepresidente y CFO interino mientras la compañía busca un reemplazo permanente.
Rojo aporta 21 años de experiencia de Procter & Gamble Co. con experiencia en finanzas, planificación estratégica y gestión operativa. La compañía enfatiza que este nombramiento refleja su compromiso de impulsar un valor estratégico a largo plazo para los accionistas a través de un crecimiento rentable y la excelencia operativa.
스텝안 컴퍼니 (NYSE: SCL)는 루이스 E. 호조를 사장 및 CEO로 임명하고 이사회 구성원으로 즉시 효력을 발생한다고 발표했습니다. 호조는 2018년 4월부터 부사장 겸 CFO로 재직했으며, 31년간 회사에 몸담았던 스콧 R. 베렌스를 대신하게 됩니다. 사무엘 S. 힌리히센은 현재 글로벌 재무 담당 이사로, 회사가 영구적인 대체 인력을 찾는 동안 부사장 겸 CFO 직무를 대행하게 됩니다.
호조는 프로cter & Gamble Co.에서 21년의 경험을 보유하고 있으며, 재무, 전략 기획, 운영 관리 분야의 전문성을 갖추고 있습니다. 회사는 이번 임명이 장기적으로 주주들에게 전략적 가치를 창출하기 위한 노력의 일환이라고 강조했습니다.
Stepan Company (NYSE: SCL) a nommé Luis E. Rojo au poste de Président et Directeur Général ainsi que membre du Conseil d'Administration, avec effet immédiat. Rojo, qui a précédemment occupé le poste de Vice-Président et CFO depuis avril 2018, remplace Scott R. Behrens après sa carrière de 31 ans au sein de l'entreprise. Samuel S. Hinrichsen, actuellement Directeur Financier Mondial, assumera le rôle de Vice-Président et CFO intérimaire pendant que l'entreprise recherche un remplacement permanent.
Rojo apporte 21 ans d'expérience de Procter & Gamble Co., avec une expertise en finance, planification stratégique et gestion opérationnelle. L'entreprise souligne que cette nomination reflète son engagement à générer une valeur stratégique à long terme pour les actionnaires par le biais d'une croissance rentable et d'une excellence opérationnelle.
Stepan Company (NYSE: SCL) hat Luis E. Rojo mit sofortiger Wirkung zum Präsidenten und CEO sowie zum Mitglied des Vorstands ernannt. Rojo, der zuvor seit April 2018 als Vizepräsident und CFO tätig war, ersetzt Scott R. Behrens nach seiner 31-jährigen Karriere im Unternehmen. Samuel S. Hinrichsen, derzeit Global Director of Finance, wird als Vizepräsident und Interim CFO fungieren, während das Unternehmen nach einem dauerhaften Ersatz sucht.
Rojo bringt 21 Jahre Erfahrung von Procter & Gamble Co. mit, mit Fachwissen in Finanzen, strategischer Planung und Betriebsmanagement. Das Unternehmen betont, dass diese Ernennung sein Engagement widerspiegelt, langfristigen strategischen Wert für die Aktionäre durch profitables Wachstum und operative Exzellenz zu schaffen.
- Strategic leadership transition with experienced executive Luis E. Rojo, bringing 21 years of P&G experience
- Strong focus on profit recovery and shareholder value creation
- Unexpected departure of long-term CEO Scott R. Behrens
- Temporary CFO position creates leadership uncertainty
Insights
This leadership change at Stepan Company appears to be a strategic transition rather than a sudden departure. The new CEO Luis Rojo brings significant financial expertise from his CFO role at Stepan and his 21-year tenure at P&G, suggesting a potential shift toward more financially-driven strategic management. His background indicates a focus on operational efficiency and value creation, which could benefit Stepan's specialty chemicals business.
The interim CFO arrangement and planned comprehensive search shows proper succession planning. However, having two key leadership positions (CEO and CFO) in transition simultaneously could create short-term execution risks. The market typically views internal promotions more favorably than external hires due to reduced transition risks and maintained operational continuity.
After a 31-year Stepan career, Scott R. Behrens is departing the Company to pursue other opportunities. "We thank Scott for his leadership and his many contributions to the growth and diversification of Stepan over his career with the Company. During his various roles in R&D, sales and marketing, and leadership, he helped diversify our market presence, deliver innovative sustainable technologies and complete multiple acquisitions. We wish him well in his future endeavors," said F. Quinn Stepan, Jr., Chairman of the Board of Stepan.
Mr. Rojo was most recently the Company's Vice President and Chief Financial Officer, having served in that role since April 2018. He was previously in increasingly senior finance leadership roles during his 21-year career at Procter & Gamble Co. In addition to his financial expertise and strategic acumen, Mr. Rojo's experience includes a focus on driving commercial and operational results. His promotion to President and CEO underscores the Company's commitment to driving long-term strategic value for its shareholders.
"As CFO of Stepan, Luis has developed a deep understanding of all aspects of our business. While he has a strong financial mindset, he also brings a blend of strategic thinking combined with a laser focus on capturing current market and operational opportunities," said Mr. Stepan. "Luis is a passionate leader who cares deeply about our customers, employees and shareholders. Together with the strong team we have at Stepan, we are confident he will drive profit recovery and deliver value for our shareholders."
"I am honored to assume the CEO role at Stepan Company and to work alongside our talented team," said Mr. Rojo. "Together we will work to deliver profitable growth based on customer-centric innovation and operational excellence. I am excited about the opportunities we have as a company and look forward to creating value for our shareholders."
Stepan also announced that Samuel S. Hinrichsen, currently the Company's Global Director of Finance, will serve as Vice President and Interim Chief Financial Officer until such time as a permanent replacement is named. The Company intends to conduct a comprehensive search to identify a permanent Chief Financial Officer.
Corporate Profile
Stepan Company is a major manufacturer of specialty and intermediate chemicals used in a broad range of industries. Stepan is a leading merchant producer of surfactants, which are the key ingredients in consumer and industrial cleaning and disinfection products and in agricultural and oilfield solutions. The Company is also a leading supplier of polyurethane polyols used in the expanding thermal insulation market, and CASE (Coatings, Adhesives, Sealants, and Elastomers) industries.
Headquartered in
The Company's common stock is traded on the New York Stock Exchange (NYSE) under the symbol SCL. For more information about Stepan Company please visit the Company online at www.stepan.com.
More information about Stepan's sustainability program can be found on the Sustainability page at www.stepan.com.
Certain information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include statements about Stepan Company's plans, objectives, strategies, financial performance and outlook, trends, the amount and timing of future cash distributions, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, Stepan Company's actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "guidance," "predict," "potential," "continue," "likely," "will," "would," "should," "illustrative" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by Stepan Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements.
There are a number of risks, uncertainties and other important factors, many of which are beyond Stepan Company's control, that could cause actual results to differ materially from the forward-looking statements contained in this news release. Such risks, uncertainties and other important factors include, among other factors, the risks, uncertainties and factors described in Stepan Company's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports, and include (but are not limited to) risks and uncertainties related to accidents, unplanned production shutdowns or disruptions in manufacturing facilities; reduced demand due to customer product reformulations or new technologies; our inability to successfully develop or introduce new products; compliance with laws; our ability to identify suitable acquisition candidates and successfully complete and integrate acquisitions; global competition; volatility of raw material and energy costs and supply; disruptions in transportation or significant changes in transportation costs; downturns in certain industries and general economic downturns; international business risks, including currency exchange rate fluctuations, legal restrictions and taxes; unfavorable resolution of litigation against us; maintaining and protecting intellectual property rights; our ability to access capital markets; global political, military, security or other instability; costs related to expansion or other capital projects; interruption or breaches of information technology systems; our ability to retain executive management and key personnel; and our debt covenants.
These forward-looking statements are made only as of the date hereof, and Stepan Company undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Stepan Company
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