Myers Industries Inc. has replaced its CEO, Mike McGaugh, with former vice president of integration and the company’s material-handling business, Dave Basque.
Dave Basque will serve as interim president and CEO of the Akron, Ohio-based company until a new person is hired for those roles. An executive search firm has been hired to help find his replacement, the company said Monday, Sept. 9, in announcing the transition.
Myers did not say whether McGaugh had resigned or been terminated. It called the move “a leadership transition to support the continued transformation of the company” in its release.
Board chairman F. Jack Liebau Jr. showed some support for McGaugh in the same release.
“Mike has been the driver of our transformation efforts for four and a half years as our CEO. We are a better company, with a better leadership team, than we were when Mike joined us,” Liebau stated. “He built a strong platform for our growth for which we are grateful. On behalf of the Board, I want to thank Mike for his valuable leadership and contributions to Myers.”
McGaugh led Myers through several acquisitions, including its January purchase of Texas-based Signature Systems, a company that makes composite ground-protection devices, for $350 million. Under his leadership, the company emphasized growth on the rotomolding side of its business, with acquisitions of Elkhart Plastics, Trilogy Plastics and a Step2 facility in Georgia. It also has injection molding and extrusion.