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Hexion Specialty announces post-merger senior leaders
08
Mar '08
Hexion Specialty Chemicals Inc announced the post-merger senior leaders for the company, contingent on the close of its acquisition of Huntsman Corporation. The transaction is expected to close during the second quarter of 2008, pending receipt of regulatory approvals and the satisfaction of other closing conditions.

Once the merger transaction is completed:

Peter R. Huntsman, President and CEO of Huntsman Corporation, will become Chairman of the Board for the combined company;

Craig O. Morrison, Chairman, CEO and President of Hexion Specialty Chemicals, will become President and Chief Executive Officer;

Donald J. Stanutz, Division President, Performance Products, of Huntsman Corporation, will become Chief Operating Officer;

William H. Carter, Executive Vice President and CFO for Hexion, will assume that role in the new company.

“We are pleased to have a talented and highly experienced team of chemical industry executives in place to build an industry-leading enterprise, once the transaction is completed,” said Joshua J. Harris, founding partner with Apollo Management L.P. “This combination will form one of the world's largest specialty chemical companies. It will have annual sales of more than $14 billion, and more than 21,000 associates and 180 facilities around the world serving a diverse range of customers and industries with leading technologies and products.”

Mr. Huntsman has served in his current role with Huntsman Corporation since July 2000 and previously served as President and Chief Operating Officer since 1994. In 1987, he joined Huntsman Polypropylene Corporation as Vice President before serving as Senior Vice President and General Manager. He has also served as President of Olympus Oil, as Senior Vice President of Huntsman Chemical Corporation and as a Senior Vice President of Huntsman Packaging Corporation, a former subsidiary of the company.

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