MEDINA, Ohio–(BUSINESS WIRE)–RPM International Inc. (NYSE: RPM) today announced that Michael H. Sullivan has joined the company as vice president – operations and chief restructuring officer effective June 24. He will report directly to RPM’s chairman and CEO Frank Sullivan, with whom he has no familial relation.
In this capacity, Michael Sullivan will oversee RPM’s 2020 MAP to Growth operating improvement initiative. He will identify and execute opportunities to improve manufacturing efficiencies, reduce operating costs, streamline procurement, and enhance health and safety measures across all RPM business segments. In addition, he will play a key role in RPM’s annual planning process and oversee its global sourcing teams.
“This is an exciting time to join RPM, and I look forward to becoming more deeply involved in my new role,” said Michael Sullivan. “The company is making great progress with its operating improvement plan, and I intend to leverage my leadership experience and skillset to help RPM achieve its next level of growth and performance.”
Michael Sullivan began his career as a consultant with Bain & Company, before joining Temple-Inland Inc. (now International Paper) and, later, Exel Logistics plc in increasing leadership capacities within the areas of manufacturing, operations, supply chain and finance. He has spent the past decade in global management consulting with Axia (now Accenture Strategy), Corven Consulting, Ltd. (now Oliver Wyman) and, most recently, AlixPartners, with a focus on manufacturing and operations. While at AlixPartners, Sullivan played a key role in the analysis and development of RPM’s 2020 MAP to Growth program. He holds a bachelor’s degree in international relations from Yale University and an MBA, with distinction, from the Amos Tuck School of Business at Dartmouth College, where he was recognized as a Tuck Scholar.
“Having been an integral part of RPM’s operating improvement initiative from the start, Mike is remarkably well equipped to spearhead the successful completion of our 2020 MAP to Growth program,” said Frank Sullivan. “We’re confident that his leadership within this role will drive continuous, sustainable improvements across RPM and its business segments for years to come.”
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM’s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Euclid Chemical and RPM Belgium Vandex. RPM’s consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors. RPM’s specialty products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser, Legend Brands, Kop-Coat and TCI. Additional details can be found at www.RPMinc.com and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Russell L. Gordon, vice president and chief financial officer, at 330-273-5090 or [email protected].
This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below) which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of banks and other financial institutions; (b) the prices, supply and capacity of raw materials, including assorted pigments, resins, solvents and other natural gas- and oil-based materials; packaging, including plastic containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) the timing of and the realization of anticipated cost savings from restructuring initiatives and the ability to identify additional cost savings opportunities; (j) risks related to the adequacy of our contingent liability reserves; and (k) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2018, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
Russell L. Gordon
vice president and chief financial officer