Oerlikon Manmade Fibres segment has new Head of Development
January 1, 2017 brings change to the management of the development division within the Oerlikon Manmade Fibers segment. Dr.-Ing. Dr. h.c. (University of Technology Chernihiv) Klaus Schäfer is taking his final retirement from the company as planned. His successor is Jochen Adler, who has headed up the Development Project Management at the manmade fibre systems market leader for the past 10 years.
The 45-year-old machine construction graduate engineer (FH) has worked in various areas of Research & Development at Oerlikon Barmag, where he was most recently responsible for the Development Project Management for the Oerlikon Barmag and Oerlikon Neumag brands. “As a result of his work as Head of Development Project Management, Jochen Adler is the natural successor to Dr Schäfer. Dr Schäfer has decisively shaped the company over his more than 30 years with Oerlikon. His development work has been decisive in establishing us as a technology leader within the market; something that we continue to benefit from”, commented CEO Georg Stausberg, thanking the departing Chief Technology Officer for his commitment to the enterprise.
For over 30 years, Dr. Klaus Schäfer headed up the development division at Oerlikon Barmag and later also Oerlikon Neumag. It was under his leadership that such ground-breaking technologies as the EvoQuench radial quenching system, the WINGS winder for POY and FDY filaments and the Sytec One BCF system for polyester recycling applications were developed. The honorary IPA Kiev professor will remain a member of the board for the Barmag Brückner Engineering (BBE) joint venture in Remscheid.
WACKER POLYMERS under new leadership
Peter Summo (48) is taking over as president of WACKER POLYMERS effective October 1, 2016. He is succeeding Arno von der Eltz, who is retiring on this date. Summo previously headed the Engineering Silicones business unit at Wacker Silicones
Peter Summo studied business administration in Augsburg, Germany. He subsequently worked at Akzo Nobel – a producer of specialty chemicals – in the area of product marketing, before joining WACKER in 1995. After positions as a sales manager in England and Executive Board advisor at Corporate Development in Munich, he transferred to the WACKER POLYMERS division. In 2005, he took over as head of the Construction Polymers business unit and was responsible for the Dispersions & Resins business unit as of 2011. Since 2013, Peter Summo has headed the Engineering Silicones business unit at the Wacker Silicones division.
Wacker Polymers is a leading producer of state-of-the-art binders and polymeric additives based on polyvinyl acetate and vinyl acetate copolymers. These take the form of dispersible polymer powders, dispersions, solid resins, and solutions. They are used in construction chemicals, paints, surface coatings, adhesives and nonwovens, and in fibre composites and polymeric materials based on renewable resources. Wacker Polymers has production sites in Germany, China, South Korea and the USA, as well as a global sales network and technical centres in all major regions.
CEO Of US National Retail Properties, Inc. to retire
National Retail Properties, Inc. announced that Craig Macnab, Chief Executive Officer and Chairman of the Board, will retire as CEO and step down as Chairman and a member of the Board of Directors effective April 28, 2017. Julian E. (“Jay”) Whitehurst, currently President and Chief Operating Officer, will assume the role of President and CEO as of April 28, 2017
Craig Macnab has been the Company’s Chief Executive Officer since February 2004, and the Chairman of its Board of Directors since February 2008.
Macnab commented: “National Retail Properties has a compelling business model, a great retail real estate portfolio that is conservatively financed, a wonderful culture and an exceptional team. Jay is the right person to succeed me and I look forward to watching Jay and his colleagues take NNN to the next level.”
As a part of the Board’s succession planning activities and upon Macnab’s recommendation, the Company’s Board of Directors has unanimously appointed Jay Whitehurst President and CEO effective April 28, 2017. Whitehurst joined the Company in February 2003, was appointed Chief Operating Officer in June 2004 and has served as President since May 2006.
Whitehurst commented, “I want to thank Craig and our Board of Directors for the opportunity to serve as the next CEO of National Retail Properties upon Craig’s retirement. We will certainly miss Craig when he steps down next spring, but our experienced management team and talented associates will continue his mission to deliver outstanding results and create shareholder value.”
The Board has appointed Robert Legler, the Board’s lead independent Director, as Chairman of the Board effective upon Mr. Macnab’s retirement. Said Legler, “On behalf of National Retail Properties’ entire Board of Directors, I would like to recognize Craig’s exceptional leadership. He has been seen as a leader among his peers in the REIT industry for many years, and the Company’s operating performance has benefited from his guidance and execution. During Craig’s tenure, total assets have grown from USD 1.2 billion to more than USD 6 billion and most importantly the Company has produced average annual total shareholder returns over 14 %. Strong leaders require strong successors, and consummating our thorough executive succession plan, the Board is pleased to appoint Jay Whitehurst to the role of President and CEO. Jay’s experience and talents equip him well for the opportunities ahead, and we are confident that he will build upon the solid foundation that Craig has established.”
National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases. As of June 30, 2016, the company owned 2452 properties in 48 states with a gross leasable area of approximately 26.3 million square feet with a weighted average remaining lease term of 11.4 years.