Jun 15, 2016
Ingevity Names Michael P. Smith as Senior Vice President, Strategy and Business Development
NORTH CHARLESTON, S.C.–(BUSINESS WIRE)–Ingevity (NYSE:NGVT) has named Michael P. Smith to the position of senior vice president, strategy and business development, effective June 20. He will report to Michael Wilson, president and CEO. In this role, Smith will have responsibility for strategic planning and growth initiatives throughout the company.
“Mike is an experienced leader in the specialty chemicals sector and brings to Ingevity a wealth of background in growing businesses both organically and through mergers and acquisitions,” said Wilson. “He has a demonstrated track record of driving profitable growth and achieving strong business results.”
Prior to joining the company, Smith spent the past 23 years with FMC Corporation, most recently as vice president and global business director for FMC’s Health and Nutrition business. He started with FMC in 1992 as a business planner, and rose through the organization in positions of increasing responsibility. He was marketing manager for FMC Water Treatment Chemicals in Manchester, England; global business manager for FMC Process Additives, also in Manchester; director of business planning for FMC Chemicals which included products for industrial, specialty and agricultural applications; division general manager for the active oxidants division; division general manager for hydrogen peroxide; and general manager for food ingredients for FMC BioPolymer. From 2006 to 2013, Smith was division general manager for FMC BioPolymer, where he significantly expanded sales through geographic expansion and the integration of four acquisitions. Prior to joining FMC, he held several sales and management positions with Hercules Incorporated, a supplier of pine-based and hydrocarbon resins to the paper, inks, coatings and adhesives markets.
Smith holds a bachelor’s degree in chemistry from the University of Virginia and a Master of Business Administration degree from the University of Michigan.
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals and high-performance carbon materials and technologies that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, printing inks and automotive components that reduce gasoline vapor emissions. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that purify, protect and enhance the world around us. Headquartered in North Charleston, S.C., Ingevity operates from 25 locations around the world and employs approximately 1,500 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information, visit www.ingevity.com.
This announcement contains “forward-looking statements,” that is, information related to future, not past, events. Such statements generally include the words “may,” “could,” “should,” “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues,” “forecast,” “project,” or similar expressions. Forward-looking statements include, without limitation, expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. Like other businesses, Ingevity is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, general economic and financial conditions; international sales and operations; currency exchange rates and currency devaluation; compliance with U.S. and foreign regulations by operations outside the United States; attracting and retaining key personnel; conditions in the automotive market; worldwide air quality standards; declining volumes in the printing inks market; government infrastructure spending; the limited supply of crude tall oil (“CTO”); lack of access to sufficient CTO; access to and pricing of raw materials; competition from producers of substitute products; a prolonged period of low energy prices; the provision of services by third parties at several facilities; natural disasters, such as hurricanes, winter or tropical storms, earthquakes, floods, fires or other unanticipated problems such as labor difficulties, equipment failure or unscheduled maintenance and repair; protection of intellectual property and proprietary information; government policies and regulations, including, but not limited to, those affecting the environment, climate change, tax policies and the chemicals industry; and lawsuits arising out of environmental damage or personal injuries associated with chemical manufacturing. These and other important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements that may have been made in this document are described or will be described in our filings with the U.S. Securities and Exchange Commission, including our Form 10 Registration Statement. Readers are cautioned not to place undue reliance on Ingevity’s projections and forward-looking statements, which speak only as the date thereof. Ingevity undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.