- After less than two years in the position
- Accolades, praise and thanks for Newlin
- Newlin will remain as Executive Chairman at Univar
- Newlin spoke at length and said 156 words
(exechange) — Downers Grove, Illinois, February 1, 2018 — Steve Newlin, chief executive of Univar, hands over the reins. As announced by Univar Inc. in a news release on Thursday, February 1, 2018, Stephen D. (Steve) Newlin leaves his post as Chief Executive Officer at the chemical and ingredient distributor after less than two years in the position, effective May 9, 2018.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.3 years, according to data compiled by exechange. Only 10 percent of the CEOs who departed over the past 12 months left the position within two years, and 20 percent left the position within three years.
Newlin’s duties will be taken over by David Jukes, currently President and COO at Univar Inc.
“This is the right time”
Newlin’s departure from the CEO post is explained as follows. William S. Stavropoulos, lead director of Univar’s board, said: “We are confident that this is the right time to transition responsibility to his successor.”
Newlin will remain as Executive Chairman at Univar
“Stephen D. Newlin, the Company’s current Chairman and CEO, will become Executive Chairman of Univar’s board of directors,” Univar said.
Share price rise since February 2016
The change follows a rise in the share price of Univar Inc. since February 2016.
In the position of CEO since 2016
Newlin has served as President and Chief Executive Officer of Univar since June 2016.
In November 2016, he was appointed Chairman of the Board.
He previously served as Chairman, President and Chief Executive Officer of PolyOne Corporation from 2006-2014, and Executive Chairman of the Board until 2016.
From 2003 to 2006, Newlin was President, Industrial Sector at Ecolab, Inc.
He previously spent 24 years at Nalco Chemical Company in positions of increasing responsibility, and served as President and Director of Nalco from 1998 to 2001, and was President, Chief Operating Officer, and Vice Chairman from 2000 to 2001.
In addition to his election to the Univar Board of Directors in 2014, Newlin currently serves on the boards of directors of The Chemours Company and Oshkosh Corporation.
Newlin holds a bachelor’s degree in civil engineering from the South Dakota School of Mines & Technology, and has completed the Tuck Executive Program at Dartmouth College and the Harvard Business School’s Advanced Management Program.
He also served as a commissioned officer in the U.S. Public Health Service, earning an accelerated promotion.
Read the full story in the exechange report 6.2018 ($).