Trinseo Announces the Retirement of Stephen M. Zide and Christopher D. Pappas from Its Board of Directors
Trinseo (NYSE: TSE) announced the retirement of board members Stephen M. Zide and Christopher D. Pappas, effective September 30, 2020. Jeanmarie Desmond and Matthew Farrell will join the board as their successors on October 1 and November 1, 2020, respectively. Zide, Chairman since 2010, and Pappas, former CEO, played key roles in Trinseo's transition to an independent public company. The new members bring significant experience in finance and the chemicals industry, reinforcing the board's capabilities as Trinseo aims to achieve strategic and sustainability goals.
- Appointment of Jeanmarie Desmond and Matthew Farrell adds considerable finance and industry experience to the board.
- Leadership transition aims to support Trinseo's strategic objectives and sustainability goals.
- Retirement of long-serving board members may raise concerns over continuity and experience.
BERWYN, Pa.--(BUSINESS WIRE)--Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders, and synthetic rubber, announced that two members of its board of directors, Stephen M. Zide and Christopher D. Pappas, have decided to retire from the board effective September 30, 2020. In light of Mr. Zide’s and Mr. Pappas’ decisions, the board has appointed Jeanmarie Desmond and Matthew Farrell as their replacements, effective October 1, 2020 and November 1, 2020, respectively.
“On behalf of the Company and the board, I want to thank Steve and Chris for their leadership and dedication to Trinseo over the past 10 years,” said Frank Bozich, President and CEO, Trinseo. “They were both founding members of our board, and our success would not have been possible without them. I am personally thankful for their guidance and direction over the years and during my onboarding into the company.”
Mr. Zide has served as Chairman of the Board since 2010. Mr. Pappas served as the Company’s President and Chief Executive Officer from 2010 until his retirement in 2019 and has also been on the board of directors since 2010. As the board’s longest-tenured members, Mr. Zide and Mr. Pappas were instrumental in transitioning Trinseo from a carve-out business into a fully independent standalone public company.
“I’m grateful for the strong foundation that Mr. Zide and Mr. Pappas have created which continues to serve the Company,” Bozich continued. “Moving forward, we are excited to welcome Jeanmarie and Matthew to the board as we embark on a very exciting future and set out to achieve our strategic objectives and our recently announced sustainability goals. Their combined experience in the chemical space will be invaluable to our continued growth and innovation as a materials solutions provider.”
About the Incoming Directors
Jeanmarie Desmond is the former Executive Vice President and Chief Financial Officer of DuPont de Nemours, Inc. and has previously served as Vice President and Co-Controller for DowDuPont and as finance leader for the Specialty Products division following the merger of DuPont with Dow Chemical. Ms. Desmond brings substantial finance experience and extensive experience in the chemicals industry to the board of directors.
Matthew Farrell is the Chairman, President and Chief Executive Officer of Church & Dwight Co. Inc., serving since 2016 and as Chairman since 2019. Mr. Farrell served as Executive Vice President, Chief Financial Officer and Chief Operating Officer at Church & Dwight since 2014, and as its Chief Financial Officer since 2006. Mr. Farrell brings to the board of directors his experience as a chief executive officer, substantial financial and audit expertise and experience in the chemicals, industrial goods and consumer products industries.
About Trinseo
Trinseo (NYSE:TSE) is a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber with a focus on delivering innovative, sustainable, and value-creating products that are intrinsic to our daily lives. Trinseo is dedicated to making a positive impact on society by partnering with like-minded stakeholders, and supporting the sustainability goals of our customers in a wide range of end-markets including automotive, consumer electronics, appliances, medical devices, packaging, footwear, carpet, paper and board, building and construction, and tires. Trinseo had approximately
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