CARY, N.C. (Aug. 22, 2012)—Rick McNeel will retire as president and CEO of Lord Corp. at the end of the year but will stay on as chairman.
Longtime Lord employee Ed Auslander will take over the president and CEO posts effective Jan. 1. He has been the firm's vice president, global business management, since 2010 with responsibility for the company's profit and loss, capital management, capacity planning, product strategy and project prioritization.
McNeel joined Lord in 2002 from BP Amoco Chemical in London. Under his leadership, Lord said it has doubled its sales, expanded globally and worked to “commercialize innovative solutions to increase the value of its customers' products.”
Auslander said that “as a result of (McNeel's) leadership, Lord has entered into new markets, developed new business models and improved our manufacturing and business processes.”
Auslander began his career at Lord in 1984 as part of the student co-op program. During the past 28 years he has held various management positions in the aerospace, industrial and chemical products groups, including overseas assignments in France and England. Prior to his current position, he was global business director of the Elastomer Process Materials unit.
Cary-based Lord acts as both a rubber product maker and supplier. It makes mechanical devices and electromechanical systems to control vibration, motion and noise, and also produces general purpose and specialty adhesives, coatings and electronic materials. It also develops products and systems using magnetically responsive technologies.
It boasts annual sales of about $790 million, has manufacturing facilities in eight countries and more than 90 sales and support centers worldwide. It employs more than 2,900.