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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 Orbia’s 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 bachelor’s 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 Orbia’s 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 company’s 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 America’s largest manufacturer of PVC pipe, vinyl resins
and compounds. |
