Robert M. Patterson Becomes CEO of PolyOne Corporation
PolyOne Corporation (NYSE: POL), a leading global provider of specialized polymer materials, services and solutions, announced today that coincident with its 2014 annual meeting of shareholders, Robert M. Patterson has become president and chief executive officer, PolyOne Corporation, and was elected to the company's Board of Directors. As part of a planned and previously announced succession, Mr. Patterson transitions to the role following the retirement of Stephen D. Newlin, who remains executive chairman of the PolyOne Board of Directors.
"Under Steve's vision and leadership these past eight years, PolyOne has transformed into an innovative and global specialty growth company," said Mr. Patterson. "It is an honor for me to now lead this remarkable organization. We have a proven strategy, a superb team, and a track record of executing with excellence. I'm committed to building on our strong momentum to deliver increasing value for our customers, shareholders and associates."
During the meeting, shareholders approved all proposals presented, including the re-election of the following individuals to serve on the company's board of directors until the 2015 annual meeting: Stephen D. Newlin, Richard H. Fearon, Gregory J. Goff, Gordon D. Harnett, Sandra Beach Lin, Richard A. Lorraine, William H. Powell, Kerry J. Preete, Farah M. Walters and William A. Wulfsohn.
Dr. Carol A. Cartwright, a PolyOne director since 1994, was not up for re-election, having reached the required retirement age. "Dr. Cartwright has been an invaluable source of insight, perspective and counsel during her 20 years of affiliation with PolyOne and our predecessor company MA Hanna. While she will be deeply missed, Dr. Cartwright leaves the company having built a strong and diverse Board through her leadership of the nominating and governance committee," said Mr. Newlin.
Shareholders also approved, on an advisory basis, the vote on named executive officer compensation, and ratified the appointment of Ernst & Young LLP as PolyOne Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2014.
Reflecting on his eight years as the transformational leader of PolyOne Corporation, Mr. Newlin added, "This has been one of the true pleasures and incredible experiences of my life. The achievements we've accomplished at PolyOne have been remarkable and have clearly generated tremendous value for those who believed in us. And now under Bob's leadership, I'm fully confident that we'll continue our specialty growth transformation. PolyOne's best days are still ahead."
About PolyOne PolyOne Corporation, with 2013 revenues of $3.8 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
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