Nuplex has a new chief executive with Dr Ememry Severin named today as the replacement for John Hirst, who is retiring after 40 years with the company.Dr Severin – who has served as president of building product manufacturer Boral Industries –
Nuplex has a new chief executive with Dr Ememry Severin named today as the replacement for John Hirst, who is retiring after 40 years with the company.
Dr Severin – who has served as president of building product manufacturer Boral Industries – will take on the role of managing director and chief executive from April 23, based out of Nuplex’s head office in Australia.
Mr Hirst will retire at the end of June after 43 years with Nuplex and nine as its chief executive, although he will remain as a consultant to the board through to June 2011 to keep the changeover at the top as smooth as possible.
Under Mr Hirst’s guidance, the company sailed through the most turbulent period in its 50-year history, when a loss of demand for its resin products saw the share price plummet to all time lows.
Following a large capital raising programme, the company has reported a better than expected recovery and late last year outlined a new management structure that has recently seen Clive Deetlefs named as the company’s new group general manager of operations.
Nuplex's share price (NZX: NPX) now sits at $3.22, down from a high of $3.40 reached last week.
Nuplex chairman Rob Aitken said Dr Severin had extensive experience in the industrials sector and had demonstrated the ability to build profitable international businesses through organic and acquisition growth.
“After a comprehensive international evaluation of internal and external candidates, the board is delighted to appoint Emery to the position of CEO as we feel his demonstrated strategic and commercial expertise, acquisition experience and proven leadership in competitive environments are ideally suited to Nuplex’s future development,”
