Avantor Performance Materials Names John M. Steitz President and CEO
FOR: AVANTOR PERFORMANCE MATERIALS
AUG 20, 2012 - 16:45 ET
Chemical Industry Veteran to Lead Performance Materials Supplier
CENTER VALLEY, PA--(Marketwire - August 20, 2012) - Avantor™ Performance Materials, a global manufacturer and supplier of high-performance chemistries, announces the appointment of John M. Steitz as president and chief executive officer.
Steitz assumes the role of president and CEO from Avantor Chairman Rajiv L. Gupta, who had been serving as the company's CEO. Gupta remains chairman of the board of Avantor, which is owned by an affiliate of New Mountain Capital.
Steitz, 54, brings more than 30 years of experience in the field of specialty chemical manufacturing to his new role at Avantor. Most recently, he served as president and chief operating officer at Albemarle Corporation, a global chemical manufacturing company based in Baton Rouge, LA. Prior to joining Albemarle in 2000, he was vice president and general manager of the pharmaceutical chemicals division at Mallinckrodt, Inc.
He holds an MBA from Southern Illinois University and a bachelor's degree in chemical engineering from the University of Missouri.
"We're pleased at the opportunity to have John and his capabilities in this key role at Avantor," Gupta said. "He is a proven leader who has demonstrated throughout his career an exceptional ability to manage growth initiatives and work with employees to serve customers, improve operations and maximize profitability. His leadership, business management and administration experience will be a great asset to Avantor's development as a world-class supplier and partner with our customers," said Gupta.
"We look forward to working with John as we continue to support an aggressive growth strategy for Avantor. The company is well positioned for long-term success and we are enthusiastic about the possibilities under John's leadership," said Matt Holt, managing director of New Mountain Capital.
"I look forward to working closely with Avantor employees and management to ensure the continuation of the company's growth trajectory," Steitz said. "I'm eager to join the team and further establish Avantor's position as a leading performance chemistries and materials provider in the markets and communities it serves."
In his role as president and CEO, Steitz will oversee all aspects of Avantor's global operations in its four business areas: Laboratory Products, Pharmaceuticals, Electronic Materials and Diagnostics. He will be based at Avantor's global corporate headquarters in Center Valley, PA.
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About Avantor™ Performance Materials
Based in Center Valley, PA (USA), Avantor Performance Materials manufactures and markets high-performance chemistries and materials around the world under several respected brand names, including the J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™ brands.
Avantor products are used in a wide range of industries. Our biomedical and life science solutions are used in academic, industry and quality control laboratories for research, pharmaceutical production and medical lab testing, while our electronics solutions are used in the manufacturing of semiconductors and flat panel displays. For additional information please visit www.avantormaterials.com or follow www.twitter.com/avantor_news.
About New Mountain Capital
New Mountain Capital is a New York‐based private equity firm that emphasizes business building and growth, rather than debt, as it pursues long‐term capital appreciation. The firm currently manages private and public equity funds with approximately $9 billion in aggregate capital commitments. New Mountain seeks out the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.
Trademarks are owned by Avantor Performance Materials, Inc., or its affiliates unless otherwise noted.
© 2012 Avantor Performance Materials, Inc.
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Avantor Performance Materials, Inc.
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