This global chemical industry award will be presented to Bunch at a ceremony Thursday, Oct. 30, in New York City.
The distinguishing feature of this award is that the winner is selected by his or her peers – the senior executives selected in the ICIS Top 40 Power Players listing, a global ranking of people making the greatest impact on the chemical industry.
“We congratulate Mr. Bunch for his outstanding and newsworthy achievements, including a landmark deal to separate its commodity chemicals business and merge it with Georgia Gulf to create Axiall (Corporation), boosting shareholder value significantly,” said Joseph Chang, global editor of ICIS Chemical Business.
Acquisitions to PPG’s core coatings business have also added value, Chang said, and this has continued into 2013 with the acquisition of AkzoNobel’s North American architectural coatings business.
“During the past several years PPG has made significant progress focusing our business portfolio and activities in pursuit of our vision to continue to be the world’s leading coatings and specialty products company,” Bunch said.
“I am pleased to accept this recognition on behalf of all PPG employees who have worked so hard to achieve these noteworthy accomplishments in our industry.”
In the award selection process, ICIS and the Chemists’ Club invited each of the ICIS Top 40 Power Players for 2012 to vote for three individuals in the ballot, based on newsworthy achievement in one or more categories:
- Profitability/shareholder value (growth in earnings before interest, taxes, depreciation and amortization – or EBITDA – along with stock price and dividends);
- Mergers and acquisitions (deals or integration);
- Projects/capital investment; and
- Innovation – technology, product, business process with an impact on industry and society.
The ICIS Kavaler Award
The award is a revival of the Kavaler Award, which was presented by Chemical Market Reporter to leading chemical CEOs from 1990 to 1999. It is named in memory of Arthur Kavaler, who served for 46 years as reporter, editor and eventually publisher and editor in chief of Chemical Market Reporter.
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