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Mr Naples plans to step down as Quaker CEO

12
May '08
Ronald J. Naples, who, over the past 13 years has led Quaker Chemical Corporation to become an integrated, global company and almost tripled its market capitalization, has announced plans to step down as CEO in October. Naples will remain chairman and chief executive officer until October, after which he will remain chairman for a limited time.

The Board of Directors has selected Michael F. Barry, senior vice president and managing director -- North America, Quaker's largest operation, to assume the CEO role in October. Barry joined Quaker in 1998 as chief financial officer, where he served for six years, and has also served in key global and regional operating roles, most recently leading the company's North American operations to record levels of performance.

Barry, 50, has been a member of the company's management executive committee, which oversees the company's worldwide business, since joining Quaker. He has an MBA with distinction from the Wharton School of the University of Pennsylvania, and a bachelor's degree in chemical engineering from Drexel University.

The Board has also appointed Patricia C. Barron, a long-time company director, as lead director.

"In Mike, we have a very well-prepared successor ready from within our management team. He's been a partner to me in many ways and has made an enormous difference in our business, most recently through the remarkable turnaround in North America. He'll be a great CEO," said Naples.


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