PolyOne Promotes Robert M. Patterson to Chief Operating Officer, Richard J. Diemer, Jr. Joins as Chief Financial Officer
CLEVELAND, March 12, 2012 /PRNewswire-FirstCall/ -- PolyOne Corporation (POL), a premier provider of specialized polymer materials, services and solutions, today announced that effective immediately Robert M. Patterson has been promoted to executive vice president and Chief Operating Officer (COO). In addition, Richard J. Diemer has joined the company as senior vice president and Chief Financial Officer (CFO).
In this new position, Mr. Patterson, 39, will have primary responsibility for developing and executing PolyOne's annual operating plans and strategic plans to drive growth in revenue, gross margin and operating income. Mr. Patterson will have accountability for the success of PolyOne's four business segments, and each segment president will report to him.
Mr. Patterson previously served as executive vice president and CFO at PolyOne, after joining the company in 2008 as senior vice president and CFO. Prior to PolyOne, he served in executive roles at Novelis, first as controller and Chief Accounting Officer, then as treasurer. Earlier in his career he was with SPX Corporation, serving in roles of increasing responsibility, including segment CFO. In his four years at PolyOne, Mr. Patterson led key strategic and operational initiatives that have helped transform PolyOne into a leading specialized polymer and solutions provider.
"I'm extremely pleased that Bob will be leading our businesses as COO. He has the business acumen and leadership qualities that will make him successful in this new position," said Stephen D. Newlin, chairman, president and Chief Executive Officer, PolyOne Corporation. "I look forward to leading this company with Bob, as we continue our transformational strategy to accelerate profitable growth at PolyOne through innovative and specialized solutions."
Mr. Diemer, 53, joins PolyOne with more than 30 years of experience in global business leadership, including financial management, operational finance, accounting, financial reporting, audit, corporate governance, investor relations and risk management. He has held CFO roles at both public and privately-held global specialty businesses, including Styron LLC and Albemarle Corporation, as well as for Honeywell's Specialty Chemicals business segment.
Mr. Diemer began his career at KPMG, the global accounting firm. During his 17-year tenure, he was elected partner and spent four years based in the firm's London office, serving global clients throughout Europe. He is a graduate of the McIntire School of Commerce at the University of Virginia.
As CFO for PolyOne, Mr. Diemer will have accountability for global treasury, planning, M&A, accounting and internal audit functions, as well as investor relations.
"We are thrilled to have Rich join our executive leadership team at PolyOne," said Mr. Newlin. "His skills and experience with large, global specialty organizations make him uniquely qualified to help PolyOne accelerate growth and further develop our expertise in the specialty arena."
PolyOne Corporation, with 2011 revenues of $2.9 billion, is a premier provider of specialized polymer materials, services and solutions. Headquartered outside Cleveland, Ohio USA, PolyOne has operations around the world. Consistent with the company's strategy of specialty growth and global expansion, in December of 2011 PolyOne acquired ColorMatrix Group, Inc., a highly specialized company with a premier suite of additive technologies and a leading market position in liquid colorants. For additional information on PolyOne, visit our Web site at www.polyone.com.
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SOURCE PolyOne Corporation