NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity (NYSE:NGVT) today announced that Michael P. Smith has been named executive vice president and president, Performance Chemicals, strategy and business development. He will report directly to Michael Wilson, Ingevity’s president and CEO. This new role combines Smith’s current responsibilities in the areas of strategy and business development with those of the executive vice president and president, Performance Chemicals, a position held by Edward A. Rose, who will be leaving the company.
“This reorganization is part of an effort to streamline our leadership team, flatten the organization and reduce costs,” said Wilson. “In addition, several businesses within our Performance Chemicals segment continue to be affected by competitive pressures impacting prices and volumes. As such, it is imperative that we execute new and innovative strategies to enable the business to thrive despite the external environment. Mike’s experience managing transformation initiatives in a variety of businesses in the specialty chemicals sector – several of which faced similar circumstances – uniquely qualifies him for this role.
“Ed’s contributions to the company have been significant,” Wilson continued. “His commitment, dedication and leadership have helped forge a successful and unique specialty chemicals business. His efforts in shaping Ingevity have clearly helped position us for long-term profitable growth. On behalf of the board of directors, we’d like to extend to Ed our most sincere gratitude for his service and best wishes for the future.”
Smith joined Ingevity in June 2016 as senior vice president, strategy and business development. Prior to joining the company, Smith spent 23 years with FMC Corporation, most recently as vice president and global business director for FMC’s Health and Nutrition business. He started with FMC in 1992 and rose through the organization in positions of increasing responsibility. He was marketing manager for FMC Water Treatment Chemicals in Manchester, England; global business manager for FMC Process Additives, also in Manchester; director of business planning for FMC Chemicals; division general manager for the active oxidants division; division general manager for hydrogen peroxide; and general manager for food ingredients for FMC BioPolymer. From 2006 to 2013, Smith was division general manager for FMC BioPolymer. Prior to joining FMC, he held several sales and management positions with Hercules Incorporated, a supplier of hydrocarbon and pine-based resins. Smith holds a Bachelor of Arts degree in chemistry from the University of Virginia and a Master of Business Administration degree from the University of Michigan.
Prior to the spinoff of Ingevity from WestRock, Rose was president of MWV Specialty Chemicals, a division of MeadWestvaco Corporation (now WestRock), from 2010 to 2015, and vice president, Resins Polymers and Coatings, from 2004 to 2009. Over the course of 31 years with MWV Specialty Chemicals, Rose led teams in business development and strategy, including new product development, bolt-on acquisitions and strategic alliances. He has held various roles as development engineer, national sales manager, business development manager, industry manager, marketing manager and group manager. He holds a Bachelor of Science degree in civil engineering from Clemson University.
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals and high-performance carbon materials and technologies that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, printing inks and automotive components that reduce gasoline vapor emissions. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that purify, protect and enhance the world around us. Headquartered in North Charleston, S.C., Ingevity operates from 25 locations around the world and employs approximately 1,500 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information, visit www.ingevity.com.
