Thomas S. Gross to Retire From RPM Board of Directors
February 26 2021 - 3:15PM
Business Wire
RPM International Inc. (NYSE: RPM) today announced that Thomas
S. Gross will retire from its Board of Directors effective May 31,
2021 after nearly nine years of service to the company. Gross
serves on the Board’s Compensation Committee and previously served
on the Board’s Operating Improvement Committee overseeing the
company’s MAP to Growth initiative.
“On behalf of all of RPM, I want to thank Tom for his valuable
contributions to our company’s growth and success,” stated RPM
Chairman and CEO Frank C. Sullivan. “For the past nine years, Tom
has played an integral role in RPM’s strong performance, providing
counsel across key areas relevant to our business and contributing
to the company’s improved efficiency and operational excellence. We
wish Tom and his family well in his next chapter, and are extremely
grateful for his expertise and guidance over the years.”
“It has been a privilege to work alongside RPM’s extremely
qualified and talented directors and leadership team,” Gross
stated. “Watching RPM continue to grow significantly in revenue,
profit and market cap during my tenure has been extremely
rewarding, and I am confident that RPM will continue on its upward
trajectory. I thank all of my colleagues for their dedication and
camaraderie over the years.”
Gross joined RPM as a director in 2012. He retired from Eaton
Corporation plc, a diversified global leader in power management,
in 2015 after 12 years with the company. He was most recently Vice
Chairman and Chief Operating Officer for the company’s Electrical
Sector, a position in which he served from 2009 until 2015. Prior
to joining Eaton, Gross held executive leadership positions with
Danaher Corporation, Xycom Automation, and Rockwell Automation.
Gross was also previously a director for WABCO Holdings, Inc. until
2020.
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services. The company operates across four reportable segments:
Consumer Group, Construction Products Group, Performance Coatings
Group and Specialty Products Group. RPM has a diverse portfolio
with hundreds of market-leading brands, including Rust-Oleum, DAP,
Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline,
Tremco and Dryvit. From homes and workplaces, to infrastructure and
precious landmarks, RPM’s brands are trusted by consumers and
professionals alike to help build a better world. The company
employs approximately 14,600 individuals worldwide. Visit
www.rpminc.com to learn more.
For more information, contact Russell L. Gordon, vice president
and chief financial officer, at 330-273-5090 or
rgordon@rpminc.com.
Forward-Looking Statements
This press release contains “forward-looking statements”
relating to our business. These forward-looking statements, or
other statements made by us, are made based on our expectations and
beliefs concerning future events impacting us and are subject to
uncertainties and factors (including those specified below), which
are difficult to predict and, in many instances, are beyond our
control. As a result, our actual results could differ materially
from those expressed in or implied by any such forward-looking
statements. These uncertainties and factors include (a) global
markets and general economic conditions, including uncertainties
surrounding the volatility in financial markets, the availability
of capital and the effect of changes in interest rates, and the
viability of banks and other financial institutions; (b) the
prices, supply and capacity of raw materials, including assorted
pigments, resins, solvents, and other natural gas- and oil-based
materials; packaging, including plastic and metal containers; and
transportation services, including fuel surcharges; (c) continued
growth in demand for our products; (d) legal, environmental and
litigation risks inherent in our construction and chemicals
businesses and risks related to the adequacy of our insurance
coverage for such matters; (e) the effect of changes in interest
rates; (f) the effect of fluctuations in currency exchange rates
upon our foreign operations; (g) the effect of non-currency risks
of investing in and conducting operations in foreign countries,
including those relating to domestic and international political,
social, economic and regulatory factors; (h) risks and
uncertainties associated with our ongoing acquisition and
divestiture activities; (i) the timing of and the realization of
anticipated cost savings from restructuring initiatives and the
ability to identify additional cost savings opportunities; (j)
risks related to the adequacy of our contingent liability reserves;
(k) risks relating to the recent outbreak of the coronavirus
(Covid-19); and (l) other risks detailed in our filings with the
Securities and Exchange Commission, including the risk factors set
forth in our Annual Report on Form 10-K for the year ended May 31,
2020, as the same may be updated from time to time. We do not
undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events, information or
circumstances that arise after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210226005073/en/
Russell L. Gordon vice president and chief financial officer
330-273-5090 rgordon@rpminc.com
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