Rudi Lenz joined Sun Chemical in 2002 as the senior vice president and CFO. At the start of 2008 he became president and CEO. On January 1st he’ll move to a new role. As vice chairman of the company board, Lenz will “advise the business on key strategies and issues as they arise,” according to a media release about the leadership change.
Myron Petruch will be Sun Chemical’s new president and CEO. Petruch has, for the past 11 years, been president of Sun Chemical Performance Pigments and general manager of the Pigments Products Division.
“Myron’s background and track record of success make him the outstanding individual for this very important position at Sun Chemical,” Masayuki Saito, chairman of the board for Sun Chemical, tells the press. “On behalf of DIC [the Japan-based group Sun has been a part of since 1986] and Sun Chemical, we are grateful to Rudi for his accomplishments and fine work as president and CEO and we wish Myron every success in the future leading Sun Chemical.”
Accomplishments
Under Petruch’s leadership, Sun Chemical’s Performance Pigments division has completed a number of acquisitions, including this year’s deal to acquire the Cathay Industries iron oxides business.
At the time of that transaction, Petruch emphasized, “This acquisition further demonstrates Sun Chemical and DIC’s commitment to be the leading and most innovative color and effects supplier to the global cosmetics market,” as Cosmetics Design reported.
And, he projected that the beauty industry’s demand for pigments will continue to rise: “The demand for the unique ultra high-purity product produced at this site [in Valparaiso, Indiana] will continue to grow rapidly across the globe as the cosmetics industry continues to tighten specifications and implement new regulations to ensure the highest purity raw materials in all of their products.”
Petruch oversaw 7 other acquisitions during his tenure as president of the Performance Pigments business and, according to the Sun press release, has led the division to 8 consecutive years of record sales.
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Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.