Ingevity Corp. announced Feb. 20 that its board of directors and D. Michael Wilson agreed he would resign as president, CEO and a director, effective immediately, as a result of matters relating to his personal conduct. The company named Ingevity chairman Richard Kelson as interim president and CEO and established a CEO search committee.
Charleston, South Carolina-based Ingevity supplies the lubricant and metalworking fluid markets with tall oil fatty acid and distilled tall oil, along with a variety of raw materials and performance additives. The company acquired Georgia-Pacifics pine chemicals business – including tall oil fatty acids – in 2017.
Ingevity noted the resignation is unrelated to the companys financial report and business performance and is the result of matters relating to his personal conduct. The company didnt disclose details about the personal conduct matters. According to a prior year Ingevity annual report, Wilson had served as its president and CEO since 2015. He previously served as executive vice president and president of Performance Chemicals of Albemarle in 2015, as president of Albemarles Catalyst Solutions business in 2013-2014 and as president of FMCs Specialty Chemicals group from 2011 to 2013.
Ingevitys board has established a CEO search committee, led by Michael Fitzpatrick, chair of its nominating and governance committee to identify and select a permanent president and CEO.
Ingevity has a bright future, a deep bench of talent and a strong leadership team, interim CEO Kelson said in a news release. I look forward to working with the team as interim president and CEO while a search for the next leader of Ingevity is underway.
Kelson was named chairman of the companys board of directors in 2016, and has served as chairman, president and CEO of ServeCo., a strategic sourcing business, since 2009. He served as chief financial officer and executive vice president at Alcoa Inc. for nearly a decade before retiring in 2006. He also served as a member of the board of directors of MeadWestvaco Corp. and its predecessor, Westvaco, from 2001 to 2015. Kelson currently serves as a director of Commercial metals Co. and served as its lead director from 2014 to 2019.