COVINGTON, Ky. – Ashland Inc. (NYSE: ASH), a supplier of resin to boat builders, has realigned the existing leadership of its four wholly owned divisions into two management teams - Chemicals and Transportation Construction, the company reported in a statement today.
The Chemicals component consists of Ashland Distribution, Ashland Specialty Chemical and Valvoline, and will report to Gary A. Cappeline.
The strategic move was recommended by James J. O'Brien, Ashland Inc. chairman and chief executive officer, and has been approved by the company's board of directors, the company reported. O'Brien stressed that the management reorganization reflects the logical interrelationship of Ashland's businesses, noting that the new structure is also consistent with the American Chemistry Council's categorization of chemical process industries.
"We will all operate one way -- The Ashland Way," O'Brien said. "Chemicals and Transportation Construction are distinctive business platforms for us. Yet, within each business model are similar work functions through which we can leverage our strengths, best practices, processes and capabilities for serving customers. Our new organization will align these assets within each business platform. As a result, our employees and customers will gain the benefits of strongly focused cross-functional teams, optimized efficiencies and improved communication.”
Cappeline, who reports to O'Brien, retains his title as senior vice president, Ashland Inc., and assumes the additional new title of president and chief operating officer, Chemicals. Reporting to Cappeline are Sam Mitchell, vice president, Ashland Inc., and president, Valvoline; Hank Waters, vice president, Ashland Inc., and president, Ashland Distribution; Michael J. Shannon, senior vice president, Ashland Specialty Chemical, Thermoset Resins; and Len R. Gelosa, senior vice president, Ashland Specialty Chemical, Water Technologies.
In addition, David J. D'Antoni, senior vice president, Ashland Inc., has announced his intention to retire later this year.
Until his retirement, D'Antoni will continue to serve on Ashland's executive committee and to advise and assist O'Brien and the company's management team on key strategic issues.