SI Group, a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals and chemical intermediates, announced last week that CEO Frank A. Bozich will be departing the company to pursue a new opportunity. Bozich has accepted an executive role at Trinseo. Dave Mezzanotte, director at SK Capital Partners, will serve as interim CEO until a successor is named.
“Frank’s transition out of the company comes at a time when the structural integration is largely complete,” said Barry Siadat, a founder and managing director of SK Capital, “We have a new organizational structure and executive team that has been put in place, and our transition plan contemplated this change. A search for a new CEO is well underway and we have tremendous confidence in Dave and the company’s executive leadership team.”
Interim CEO Mezzanotte previously served as chairman and interim CEO at Coveris, a USD3 billion global manufacturer of plastic packaging. Previously, he spent eight years at Sun Capital Partners, where he served as a managing director with operating responsibility for more than two dozen portfolio companies during his tenure. Mezzanotte has also served as chief operations officer at CHEP, Inc. a USD4 billion logistics services provider with operations in 45 countries, and in technology leadership roles at DuPont and AlliedSignal/Honeywell.
SI Group also earlier announced the appointment of Rich Preziotti as senior vice president & president, Additives.
These announcements follow the October 15, 2018 completion of the acquisition of SI Group by SK Capital Partners, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors. The transaction included the combination of SI Group with Addivant, an SK Capital portfolio company since 2013 and leading global producer of specialty additives.
John Steitz, former SI Group CEO, Additives, announced his intention to transition out of the company. Steitz was instrumental in the integration of SI Group and Addivant during the SK Capital acquisition process in 2018.
Preziotti brings nearly 30 years of experience to SI Group, having recently served as president & CEO of Vertellus, a global specialty chemical company. Prior to that, he worked at Honeywell, where he held various leadership roles. Preziotti graduated from Union College with a Bachelor of Science degree in electrical engineering. He also holds an MBA from Columbia Business School.
“Rich has a proven track record of impressive accomplishments leading global businesses, M&A projects and strategic growth initiatives,” said Frank Bozich, SI Group CEO. “With the addition of Rich to our executive leadership team, we are positioned to realize our potential as a global specialty additives powerhouse.”
Additional leadership changes include:
• Paul Tilley to become senior vice president & president, Chemical Intermediates & Industrial Resins
• Philip Ingham to become vice president, Corporate Development
• Suresh Kalra to become vice president, Industrial Resins & Specialties
Headquartered in Schenectady, New York, U.S.A., SI Group operates more than 30 manufacturing facilities on five continents with approximately USD2 billion in annual sales, and more than 3,000 employees worldwide.