Industry News

Grace Announces Leadership Changes

Published on 2005-05-02. Author : SpecialChem

COLUMBIA, Md. -- W. R. Grace & Co. announced the following changes to its leadership team. Richard C. Brown has been elected a vice president of Grace and has been named president of Grace Performance Chemicals.

Brown joins Grace following a nineteen-year career at General Electric Company, where he last served as president of GE Silicones - Core Products. "Rick brings a strong commercial orientation that is critical to running the businesses that comprise our performance chemicals unit, and he also knows the construction industry," said Fred Festa, President and Chief Operating Officer. Brown succeeds Robert J. Bettacchi, who last week announced that he was stepping down as president of Grace Performance Chemicals.

Grace Performance Chemicals' products include specialty construction chemicals, building materials, and can sealants and coatings. Sales for 2004 were approximately $1.1 billion with 3,000 employees in 39 countries.

Mark A. Shelnitz has been elected vice president and general counsel of Grace; he also continues as corporate secretary of the Company.

Shelnitz has been with Grace since 1983. He most recently served as associate general counsel, managing all corporate legal matters for the Company. He replaces David B. Siegel, who announced his retirement effective April 26, 2005 following twenty-eight years of service with the Company. Siegel expects to continue his relationship with Grace by providing consulting services related to the Company's Chapter 11 reorganization.

"I am very pleased with how we have transitioned the leadership within our legal department," said Fred Festa. "Mark and Dave have worked with each other for more than twenty years and have been key contributors to our business strategy and managing the many complex legal issues faced by the Company."

Grace is a leading global supplier of catalysts and other products and services to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide-range of industrial applications; specialty chemicals, additives and materials for commercial and residential construction; and, can sealants and coatings for food packaging. With annual sales of more than $2.2 billion, Grace has over 6500 employees and operations in nearly 40 countries.

Source: W. R. Grace & Co.

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