WICKLIFFE, Ohio—Lubrizol Corp. has named Eric R. Schnur chairman, president and CEO, effective Jan. 2.
He succeeds James L. Hambrick, who completes his career spanning more than 38 years at Lubrizol. The planned transition was previously announced in mid-2016.
Schnur has been with Lubrizol for more than 27 years and was promoted to president and chief operating officer on June 1, 2016, after previously serving as president of the Lubrizol Advanced Materials business segment for eight years.
"It's a great honor to have this opportunity," Schnur said in a statement. "I want to thank James for all he has done for Lubrizol and for the strong foundation he has left, upon which we can build and continue to grow the company."
Lubrizol said Hambrick guided the transformation of Lubrizol into a leading specialty chemical company for the last 14 years. He expanded the portfolio through a number of strategic acquisitions, most notably Noveon International Inc. in 2004.
The firm added that Hambrick significantly strengthened the company's financial position, which allowed it to pursue its growth objectives. The firm was acquired by Berkshire Hathaway in 2011.
Headquartered in Wickliffe, Lubrizol operates manufacturing facilities in 17 countries, employs roughly 8,800 and recorded $7 billion in revenue in 2015.