Investor Release

Styrolution announces changes to its management board and organizational structure


Frankfurt, Germany

Key points:
  • Styrolution will establish a global business unit dedicated to styrene monomer. Regional business units will now focus exclusively on strengthening Styrolution's leading market position in polymers.
  • Steve Harrington has been appointed president of the global styrene monomer business unit effective February 1, 2013. Mr. Harrington has been working in the styrenics industry since 2005, holding various commercial roles within several INEOS businesses with territorial responsibilities including: Africa, the Middle East and Russia. Most recently, he led Styrolution's styrene monomer business in the Americas. Mr. Harrington holds a degree in chemistry from Hull University and currently serves as chairman of the Styrene Information and Research Center.
  • Kevin McQuade has been appointed president, Europe, Middle East and Africa effective March 1, 2013. Mr. McQuade currently serves as president, Americas at Styrolution. During his over thirty-year career, he has held management positions at INEOS Nova, BASF Corporation and Mobil Chemical Company. Mr. McQuade holds chemical engineering degrees from The Cooper Union and the University of Delaware, as well as an MBA from New York University. He will continue to lead the Americas' polymers business on an interim basis until his successor assumes his new role in June 2013.
  • Dr. Alexander Glueck has been appointed president, Americas effective June 1, 2013. Dr. Glueck has a career spanning 19 years at BASF having held management roles in Europe and Asia. He currently serves as Styrolution's senior vice president, global strategy, R&D, and procurement. Dr. Glück received his PhD in chemistry from Ludwig-Maximilians-Universität in Munich, Germany.
  • All three individuals will serve in their new roles on Styrolution's management board together with the board's existing members, Roberto Gualdoni (chief executive officer), Christoph de la Camp (chief financial officer) and Hyung Tae Chang (president, Asia Pacific).

"I firmly believe that our management team consists of the styrenic industry's most gifted and visionary leaders. We are fortunate at Styrolution to have a pool of highly qualified individuals that are ready to take on leading positions. I am confident these gentlemen will contribute to the further success of the company," said Roberto Gualdoni, chief executive officer, Styrolution. "I am also certain that the organizational changes we have announced today will be instrumental in enabling Styrolution to offer customers a competitive edge in a challenging market environment through improved agility of supply and faster decision making capability. In this way Styrolution will be able to extend its market leadership and ultimately achieve further value-oriented growth."
If you have any questions, please do not hesitate to contact us.