PPG CFO Frank Sklarsky leaves at short notice

  • Signs for push-out forces
  • After almost four years on the job
  • Laud, praise and thanks for Sklarsky
  • Vincent Morales taking over

(management-change.com) — Pittsburgh, Pennsylvania, January 19, 2017 — Frank Sklarsky, finance chief of PPG, leaves. It is a change at short notice. As announced by PPG Industries, Inc. in a news release on Thursday, January 19, 2017, Frank S. Sklarsky leaves the post as chief financial officer at the maker of coatings, specialty materials, and glass products in a surprising move after almost four years on the job, effective March 01, 2017.

Sklarsky’s duties are taken over by Vincent J. Morales, currently vice president, finance at PPG Industries, Inc.

No reason given

In the announcement, PPG did not explicitly explain the reason for Sklarsky’s imminent move, opening the door for speculation.

“Retirement”

PPG said: Morales “is replacing Frank S. Sklarsky as CFO, who has announced his retirement also effective March 1”.

Precise information about the future plans of Sklarsky was not immediately available.

Share price rise since February 2009

The change follows a rise in the share price of PPG Industries, Inc. since February 2009.

Chaired by Michael McGarry

PPG Industries, Inc. is chaired by Michael H. McGarry.

Michael H. McGarry is chairman and chief executive officer of PPG. He became chairman of the board September 1, 2016, after transitioning into the CEO role in September 2015.

On the job as CFO since 2013

Sklarsky is Executive Vice President and Chief Financial Officer of PPG Industries, Inc.

Sklarsky joined PPG in April 2013 as Executive Vice President, Finance, and was named to his current role in August 2013.

Previously, he was Executive Vice President and Chief Financial Officer of Tyco International, a global provider of security, fire protection and flow control solutions (“Tyco”) from December 2010 to September 2012.

Earlier in his career, Sklarsky spent 20 years with Chrysler and DaimlerChrysler, progressing to a series of senior financial leadership roles.

He also served in executive finance positions at Dell, Inc.

He then served as Executive Vice President and Chief Financial Officer at both ConAgra Foods and Eastman Kodak before joining Tyco.

Sklarsky serves on the Board of Trustees of Rochester Institute of Technology and the Senator John Heinz History Center.

He is also a certified public accountant.

Signs for push-out forces

It is not completely certain what forces eventually triggered Frank S. Sklarsky’s move.

The Push-out Score™ determined by management-change.com suggests that push-out forces may have contributed to the management change.

Read the full story in the management-change.com report 04.2017 ($).