Wellman appoints Mr. Ruday as Chief Executive Officer
May 22, 2008 - United States Of America
Wellman Inc announced that Mark Ruday has been appointed Chief Executive Officer and a Director of the Company. Mr. Ruday began his career at Wellman as a financial analyst at the Palmetto plant in 1991, and has served in a variety of accounting and operational positions over the years with increasing levels of responsibility.
His most recent positions have been Chief Operating Officer since January 2008, Vice President of Business Operations from March 2007 to January 2008 and Vice President and Chief Accounting Officer from May 2003 to March 2007.
Dr. Richard Heitmiller, the newly elected Chairman of the Board of Directors for Wellman, stated, "Mr. Ruday has provided outstanding leadership and is poised to lead Wellman in its restructuring and reorganization process."
Mr. Ruday stated, "I am excited to be leading a talented and dedicated group of employees in a process that will maximize value for all of Wellman's stakeholders. Working together, we will improve the operating results of Wellman through better asset management and process efficiencies while restructuring our balance sheet."
Tom Duff, the former Chairman and Chief Executive Officer, will remain a member of Wellman's Board of Directors.