The Board of Directors of GCP Applied Technologies Inc., a leading global provider of construction products technologies, on July 1 announced a leadership transition plan that supports the Board’s commitment to executing the Company’s existing strategic and financial plan while remaining open to other opportunities that deliver value to GCP shareholders.
Randall S. Dearth, President and Chief Operating Officer, was appointed Chief Executive Officer and a member of the Board, effective Aug. 1, 2019. Dearth’s appointment is the culmination of the Board’s ongoing long-term succession planning process. Since joining GCP in September 2018, Dearth has ably led all commercial, manufacturing and supply chain operations for the Company. Dearth’s exceptional performance since joining GCP, as well as his strong track record as CEO of Calgon Carbon Corporation, ultimately culminating in the successful sale of the Company, and as a senior executive at LANXESS and Bayer, gives the Board confidence that he is the right person to lead GCP during this transformational time.
Gregory E. Poling will be assuming the role of Executive Chairman, with a particular focus on ongoing evaluation of strategic opportunities. The Company will continue to benefit from Poling’s 40 years of experience, including the successful launch of GCP as an independent public company as well as his deep knowledge of our sector, in transitioning GCP into its next successful stage of growth.
“GCP is fortunate to have a leader of Randy’s caliber at the helm as we continue to transform our Company,” said Poling. “Working with Randy has been a pleasure, and I am delighted that we will continue to collaborate in my new role as Executive Chairman of the Board. I am confident that under Randy’s leadership GCP will be well-positioned to execute on our strategy as we evaluate new opportunities for the Company’s bright future.”
“I am both excited and humbled by the opportunity to serve as CEO of GCP and will continue to work diligently to increase the Company’s value for all stakeholders,” said Dearth. “Since I joined the Company, I have been consistently impressed by our talented team and differentiated products, which together have made GCP a leader in high value segments of the growing global construction market. I am also pleased that GCP will continue to benefit from Greg’s experience at the Company as well as his deep knowledge of our sector.”
Elizabeth Mora will be assuming the role of Lead Independent Director. GCP’s Board of Directors believes Ms. Mora will add real value as an ombudsman for the Company’s outside directors and help to ensure the most effective operation of the Board.
Finally, we are announcing that Ronald Cambre, current Chairman, retired from the Board effective Aug. 1, 2019. Cambre has served on the Board since the separation from W.R. Grace & Co., where he had previously served as a director, and has been a tremendous supporter of the Company.
Poling added, “I would like to thank Ron for his service and dedication to GCP. His considerable business acumen and experience have added significant value to the Company. We wish him the best in his retirement.”