AVON LAKE, Ohio—PolyOne Corp. officially has a new chairman of its board of directors.
The Avon Lake-based polymer materials company announced that, as planned, president and CEO Robert M. Patterson became board chairman on Thursday, May 12, replacing Stephen D. Newlin.
On March 15, Newlin announced he had decided to retire from the board and would not stand for re-election at the annual meeting of shareholders.
“Steve has admirably served PolyOne and its many stakeholders over the last decade, transforming the portfolio and culture to create a specialty growth company. We offer our most sincere appreciation for his leadership and wish him all the best,” said Richard H. Fearon, who serves as lead director on PolyOne's board, in a statement.
“At the same time, the board is extremely pleased to have Bob Patterson take on the additional role of chairman,” Fearon said.
Newlin said in a statement that it “has truly been an honor for me to serve PolyOne's many stakeholders over the last 10 years. PolyOne's board and leadership team remain strong and committed, and I know there will be continued specialty transformation, innovation, growth and value creation well into the future.”
In addition to Patterson and Fearon, shareholders re-elected the following eight people to serve on the company's board until the 2017 annual meeting: Gregory J. Goff, William R. Jellison, Sandra Beach Lin, Richard A. Lorraine, William H. Powell, Kerry J. Preete, Farah M. Walters and William A. Wulfsohn.