Celeste Mastin Appointed H.B. Fuller President and CEO, Succeeding Jim Owens Upon His Retirement
September 26 2022 - 3:30PM
Business Wire
Appointment Effective December 4, 2022
Transition Culminates a Multi-Year Succession
Planning Process
H.B. Fuller Company (NYSE: FUL) announced today that Celeste
Mastin, Executive Vice President and Chief Operating Officer, will
succeed Jim Owens as H.B. Fuller’s President and Chief Executive
Officer, effective December 4, 2022. Upon assuming the role, Mastin
will also join the Company's Board of Directors, replacing Owens,
who will be retiring.
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Celeste Mastin appointed H.B. Fuller
President and CEO, succeeding Jim Owens upon his retirement.
(Photo: Business Wire)
“It has been a privilege to serve as CEO of H.B. Fuller, and I
am very proud of all that we have accomplished as a team over the
last 12 years,” said Jim Owens, President and CEO. “With a proven
value-creation strategy, an experienced leadership team in place,
and positive momentum, this is the opportune time to transition the
Company’s leadership.”
Owens added, “Celeste is an outstanding leader and ideal fit
with H.B. Fuller’s entrepreneurial, customer-focused, global
culture. She brings strategic insights, continuity of leadership,
and a strong record of delivering exceptional results. I am
confident the Company will excel and reach new levels of financial
and operational performance under her leadership.”
“I would like to thank Jim and the Board for the opportunity to
lead this fantastic company and the many exceptional team members
who work for H.B. Fuller,” said Mastin. “H.B. Fuller has a rich
history of innovating to create unique products to meet our
customers’ most-challenging needs and has become the world’s
leading pure-play adhesives company. We have a winning strategy,
tremendous talent and leadership, and the entrepreneurial culture
that will continue this legacy. I believe strongly in our strategy
and vision and I will remain focused on expanding on these
strengths to accelerate organic growth and enhance the Company’s
margin profile to achieve our strategic goals and reach our full
potential.”
“On behalf of the entire Board, I would like to thank Jim Owens
for his strong and tireless leadership of H.B. Fuller for the past
12 years and congratulate him on his retirement,” said Lee Mitau,
Chairman of the Board. “Under Jim’s leadership, the Company has
tripled in both revenue and market value as the Company shifted its
portfolio towards more highly specified, higher growth market
segments, such as electronics, solar, and electric vehicles. There
is no question the Company will continue to benefit from Jim’s
indelible contributions as CEO. We wish him and his family well in
the years ahead.”
Mitau continued, “The Board has full confidence that Celeste is
the right leader to continue to advance our strategy and keep
moving H.B. Fuller forward. Celeste was hired into the COO role
based on her wealth of experience leading complex, global
businesses, and her qualifications and abilities to assume the role
of CEO. Her appointment culminates a multi-year process to identify
the best candidate to succeed Jim. We look forward to welcoming
Celeste onto the Board and working with her to continue to execute
the Company’s proven strategy and further accelerate shareholder
value creation.”
About Celeste Mastin:
Celeste Mastin currently serves as Executive Vice President and
Chief Operating Officer of H.B. Fuller. She has more than 30 years’
experience in manufacturing and distribution with a successful
track record of guiding companies’ growth through innovation,
service improvement, global expansion, and acquisition.
Prior to joining H.B. Fuller, Mastin served as CEO of
PetroChoice Lubrication Solutions, one of the largest distributors
of petroleum lubrication solutions in the United States. Prior to
that, she held CEO roles at Distribution International, Inc. and
MMI Products, Inc. (a division of Oldcastle), and she served in
senior leadership roles at Ferro Corporation and Bostik Adhesives,
now owned by Arkema. Mastin began her career at Shell Chemical Co.
She currently serves on the board of directors of Granite
Construction, Inc. (NYSE: GVA).
Mastin earned her MBA from the University of Houston and her BS
in Chemical Engineering from Washington State University.
About H.B. Fuller Company:
Since 1887, H.B. Fuller has been a leading global adhesives
provider focusing on perfecting adhesives, sealants and other
specialty chemical products to improve products and lives. With
fiscal 2021 net revenue of $3.3 billion, H.B. Fuller’s commitment
to innovation and sustainable adhesive solutions brings together
people, products and processes that answer and solve some of the
world's biggest challenges. Our reliable, responsive service
creates lasting, rewarding connections with customers in
electronics, disposable hygiene, medical, transportation,
aerospace, clean energy, packaging, construction, woodworking,
general industries and other consumer businesses. And, our promise
to our people connects them with opportunities to innovate and
thrive. For more information, visit us at
https://www.hbfuller.com.
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