Appoints Board Member Michael Modak as Interim CEO
Realigns and Enhances North American Sales Organization to Provide Superior, Targeted Service to Customers
Nexeo Plastics (the "Company"), a leading global thermoplastics resin distributor, today announced a series of organizational changes and business improvements designed to drive growth and provide superior, targeted service to customers. These include the realignment and enhancement of the Company’s North American sales organization—such as an expanded inside sales team and increased application development and technical service resources—enabling it to better serve new and existing large, mid-sized and small customers across a range of end markets.
In conjunction with these initiatives, Michael Modak, a member of the Company’s Board of Directors and Operating Partner at One Rock Capital Partners, LLC, the majority owner of Nexeo Plastics, has been appointed Interim Chief Executive Officer. Jeff Collier, Vice President, Commercial Sales, North America, will continue to oversee the North American sales organization, while Austin Nichols has been named Vice President, Product Line and Market Management and will work closely with suppliers to grow high-value market opportunities. The Company will continue to draw on the proven expertise of the rest of its global management team and established infrastructure, which remains in place.
The realignment and enhancement of Nexeo Plastics’ North American sales organization position the Company as the global resin distributor of choice by equipping its corporate account group, field sales teams and inside sales organization to efficiently provide customers with greater coverage, faster quotation times and increased product availability. Notably, the Company is adding to its technical resources and application development functions to help customers select appropriate products and optimize their processes. The Company and its customers will also benefit from an expanded inside sales function, rebalanced field sales territories, heightened supplier collaboration and new digital capabilities and marketing strategies to increase engagement and alignment.
Mr. Modak brings extensive global experience across the chemicals and broader processing and materials manufacturing industries, having served in CEO, group level and business P&L management positions as well as a variety of other C-suite roles at public and private companies. Most recently, he was CEO of PolyAd Holdings, a plastics additives manufacturer. Previously, Mr. Modak held senior leadership roles at PGI, Momentive Performance Materials, Honeywell, National Starch & Chemicals (ICI) and HB Fuller Company. Mr. Modak earned a bachelor’s degree from Case Western Reserve University and an M.B.A. from Baldwin Wallace College.
"These exciting organizational changes support our strategy of providing a superior experience to customers by aligning our sales coverage to fit their demands," said Mr. Modak. "As we realign and enhance Nexeo Plastics to compete, succeed and grow, this tailored, high-touch approach will allow us to act as a true extension of our suppliers’ businesses and better understand and execute on our customers' needs. We look forward to expanding our industry leadership position through a renewed commitment to continuous improvement, best-in-class service and rapid delivery of high-quality solutions."
About Nexeo Plastics
Nexeo Plastics is a leading global thermoplastic resins distributor, representing high-quality products from world-class suppliers, and serving a diverse customer base across North America, Europe, Asia, Latin America, Middle East and Africa. From material selection assistance to identifying supply chain and inventory solutions, we go beyond traditional logistics to provide value-added services across many industries, including healthcare, packaging, automotive, wire and cable, 3D printing, and more. Our people, our passion, our global reach and our technology platform allow us to create unique ways to help reduce inefficiencies and unlock value for our suppliers and customers. Learn more at www.nexeoplastics.com.
Alex Jeffrey/Sam Fisher
Gasthalter & Co.