NEW APPOINTMENTS AT PPG

PPG announced that Tim Knavish, chief operating officer, has been named president and chief executive officer (CEO) appointment effective January 1, 2023. In addition, Knavish will join the company’s Board of Directors, effective October 20, 2022. Another change in PPG’s management team is the appointment of Michael H. McGarry as the new executive chairman.

Knavish, 57, who has served as PPG’s chief operating officer since March, will succeed President and CEO Michael McGarry, 64, as CEO. McGarry, who has served as CEO since September 2015, will become CEO next year. McGarry has also announced to PPG’s Board of Directors his intention to retire as executive chairman and as a director of the Company, effective October 1, 2023.

“I want to thank Michael and the PPG Board of Directors for their confidence as we continue to move PPG forward. Our portfolio of global businesses remains well positioned for future growth and to successfully navigate through today’s global economic challenges. I look forward to continuing to work with PPG’s more than 50,000 people around the world to support our clients, deliver excellent business performance and create additional value for shareholders,” Knavish said.

“Tim is a highly respected business leader who has played a pivotal role in PPG’s growth in the markets we serve,” McGarry said. “His leadership has been invaluable as PPG has executed several important strategic moves, including PPG’s recent acquisitions and the successful integrations of Tikkurila and Ennis-Flint, now PPG’s Traffic Solutions business. Tim’s proven ability to lead the implementation of our global business strategies, and his focus on continually strengthening our operations and energizing our diverse workforce will be important to delivering on our growth strategy,” he said.

Hugh Grant, senior independent director of PPG and retired chairman and CEO of Monsanto Company added that Michael’s leadership in completing several of PPG’s largest acquisitions has had a significant impact on expanding the company’s portfolio and reach in key growth markets. “We thank him for his many contributions and look forward to benefiting from his continued leadership as executive chairman of the PPG Board of Directors. As we look to the future, the board fully supports Tim and the entire PPG team as they work to achieve future growth and greater value for our shareholders,” he concluded.