Synthomer plc, the global differentiated speciality chemical company and a leading supplier of sustainable polymer solutions, today announces two senior leadership appointments for its newly formed Adhesive Technologies Division*, effective on completion of its acquisition of Eastman Adhesive Resins business expected in Q1 2022.
Toby Heppenstall, Vice President of Performance Materials within Synthomer’s Performance Elastomers Division, will become President, Adhesive Technologies. He will be responsible for developing the newly formed division’s growth strategy, integration into the wider business and delivering the business plan over the coming years. With this change, Toby will join the Executive Committee, and report to Michael Willome, Chief Executive Officer. Toby will relocate from Pall Mall, UK to the Group’s Beachwood, OH, USA office.
Toby holds a Masters degree in chemistry and an MBA and has 23 years of experience in a variety of commercial managerial roles at ICI, Ineos, Axcentive and Mitsubishi Chemicals. He joined Synthomer in 2016 with responsibility for a portfolio of speciality chemical businesses and has a strong track record of driving significant profit improvement and top line growth in these roles.
Andrew Rashid, Strategy and M&A Director at Synthomer, will become Vice President Finance for the newly formed division, reporting to Toby and also based in Beachwood, OH. Andrew worked as a Certified Public Accountant for 7 years in Audit and Transaction Services with PwC. Additionally, Andrew has 11 years of experience in Product Management and Corporate Development roles within the chemicals industry and was a key member of the leadership team that delivered the very successful integration and synergy targets of the recently acquired Omnova business.
Toby and Andrew have been heavily involved in the acquisition of Eastman Adhesive Resins business and are well placed to integrate new colleagues and realise the full potential of this exciting part of Synthomer’s business going forward.
*Adhesive Technologies had revenues of $596m in the 12 months to June 2021 and an EBITDA of $97m. It develops, manufactures and sells speciality tackifying resins and additives for adhesive products. It comprises 6 sites located across the Americas, Europe and Asia and employs approximately 650 people.