Stepan Company announced the appointment of Luis E. Rojo as President and Chief Executive Officer and as a member of the Board of Directors, effective immediately.
After a 31-year Stepan career, Scott R. Behrens is departing the Company to pursue other opportunities. “We thank Scott for his leadership and his many contributions to the growth and diversification of Stepan over his career with the Company. During his various roles in R&D, sales and marketing, and leadership, he helped diversify our market presence, deliver innovative sustainable technologies and complete multiple acquisitions. We wish him well in his future endeavors,” said F. Quinn Stepan, Jr., Chairman of the Board of Stepan.
Mr. Rojo was most recently the Company’s Vice President and Chief Financial Officer, having served in that role since April 2018. He was previously in increasingly senior finance leadership roles during his 21-year career at Procter & Gamble Co. In addition to his financial expertise and strategic acumen, Mr. Rojo’s experience includes a focus on driving commercial and operational results. His promotion to President and CEO underscores the Company’s commitment to driving long-term strategic value for its shareholders.
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“As CFO of Stepan, Luis has developed a deep understanding of all aspects of our business. While he has a strong financial mindset, he also brings a blend of strategic thinking combined with a laser focus on capturing current market and operational opportunities,” said Mr. Stepan. “Luis is a passionate leader who cares deeply about our customers, employees and shareholders. Together with the strong team we have at Stepan, we are confident he will drive profit recovery and deliver value for our shareholders.”
“I am honored to assume the CEO role at Stepan Company and to work alongside our talented team,” said Mr. Rojo. “Together we will work to deliver profitable growth based on customer-centric innovation and operational excellence. I am excited about the opportunities we have as a company and look forward to creating value for our shareholders.”
Stepan also announced that Samuel S. Hinrichsen, currently the Company’s Global Director of Finance, will serve as Vice President and Interim Chief Financial Officer until such time as a permanent replacement is named. The Company intends to conduct a comprehensive search to identify a permanent Chief Financial Officer.
SOURCE: PRNewswire