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Orbia appoints new CEO

January 20/2021

MOSCOW (MRC) -- Orbia Advance Corporation, S.A.B. de C.V., formerly Mexichem (Mexico City), has announced that its board of directors has appointed Sameer S. Bharadwaj as its new Chief Executive Officer, effective February 1, 2021, according to BusinessWire.

Mr. Bharadwaj will succeed Daniel Martinez-Valle, who has resigned from the position by mutual agreement with the board. Mr. Martinez-Valle will remain in his current position to support Mr. Bharadwaj through the end of January to ensure an orderly and effective leadership transition.

The board is confident that Sameer, together with the senior leadership team, will ensure the disciplined execution of our strategic imperatives to result in strong value creation for all our stakeholders.

Mr. Bharadwaj joined Orbia in 2016, and brings over 20 years of leadership experience in technology-led innovation, operational excellence and talent development across the advanced materials, technology, energy and pharmaceutical industries to this role. He currently serves as President of Orbias Fluor and Polymer Solutions business groups. Prior to joining Orbia, Bharadwaj held several key management positions over an 11-year tenure at Cabot Corporation and before that, worked as a strategy consultant for The Boston Consulting Group across a variety of industries and as a senior research engineer at The Dow Chemical Company. Mr. Bharadwaj earned his MBA from Harvard Business School; a Ph.D. in chemical engineering from the University of Minnesota and a bachelors degree in chemical engineering from the University of Bombay.

Sameer is a proven strategic business leader with a distinguished track record of steering transformation and growth initiatives across industries. He possesses a deep understanding of Orbia and our vision and will remain focused on continuing the transformation of Orbia into a high-return, sustainability-centric company, driving the important purpose-led cultural leadership work we began in 2019, said Juan Pablo del Valle Perochena, Chairman of the Board of Directors of Orbia. The board is confident that Sameer, together with the senior leadership team, will ensure the disciplined execution of our strategic imperatives to result in strong value creation for all our stakeholders.

I would like to thank the board for this opportunity. I am excited to take on this new role and lead Orbia at this important time. I am committed to working with the senior leadership team to ensure a seamless transition, commented Sameer Bharadwaj, President, Fluor & Polymer Solutions. I look forward to communicating with the financial community during our upcoming earnings call in February, where I will provide an update on our fourth quarter performance and how we are positioning Orbia for success in 2021. We are in the early stages of a multi-year transformation and I am confident that with our strong portfolio of industry-leading businesses, enhanced customer-centric approach and focus on operational excellence, there is significant value that will be created as we execute our strategy, continued Mr. Bharadwaj.

Mr. del Valle Perochena continued, The board and I appreciate Daniel for his leadership and significant contributions during his time as CEO. Daniel has been instrumental in redefining Orbia as a purpose-driven company, developing our Play-to-Win strategy, building a strong leadership team and significantly accelerating our ESG focus. We wish Daniel well with his future endeavors.

I have appreciated the opportunity to lead Orbias journey for the past three years and am proud of the milestones our 22,000-plus global employees have achieved in this time. I want to thank the board of directors for their belief and trust in me, and am confident Sameer will continue the companys vision and deliver on our purpose, said Daniel Martinez-Valle, Chief Executive Officer of Orbia.

As MRC reported earlier, last summer, Orbia Advance Corp. said that in view of the COVID-19 pandemic and its impact on the global economy and capital markets, it had decided to pause its efforts to divest or seek an alternative strategy for its Vestolit vinyls business.

According to MRC's ScanPlast report, Russia's overall production of polyvinyl chloride (PVC) reached 976,500 tonnes in 2020, up by 0.2% year on year. Only two producers managed to increase their PVC output.

Oriba, of Tlalnepantla, an industrial municipality close to Mexico City, is Latin Americas largest manufacturer of PVC pipe, vinyl resins and compounds.
Author:Margaret Volkova
Tags:Europe, PVC, SPVC, petrochemistry, Mexichem, Orbia Advance, Vestolit, Mexico, Russia.
Category:General News
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