FAIRLAWN, Ohio—A. Schulman Inc. boss Bernard Rzepka has paid the price for recent struggles at the global compounding leader.
Officials at Fairlawn, Ohio-based Schulman announced at the close of business on Aug. 18 that Rzepka was leaving the company effective immediately. He'll be replaced by Joseph Gingo, who was credited with rebuilding Schulman before relinquishing the top job to Rzepka in 2014.
"Joe led this Company through a remarkable seven-year renaissance as its chief executive officer, and the board is confident that he will restore A. Schulman's operational and financial performance to the high level our shareholders expect," lead independent director David Birney said in a news release.
"We thank Bernard for his dedicated service to A. Schulman during the last 24 years,” Birney added. “His many contributions throughout his career with the company should not be overlooked or minimized in light of this transition."