A Leader Returns

January 1, 2008
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Former GE Silicones president and CEO Jonathan Rich returns to Momentive to take the lead.

Rich


Jonathan Rich has returned to Momentive as the new president and CEO. Rich previously served as president of Goodyear Tire and Rubber Co.’s North American Tire Business, which has over $9 billion in annual revenues and over 27,000 employees. During his time with Goodyear, from 2000 to early 2007, he developed a strong track record of business growth and optimization.

Prior to 2000, Rich spent 18 years employed by GE Silicones, a predecessor entity to Momentive. He joined the company in 1982 after graduating from the University of Wisconsin. Rich held a variety of technical and technical management positions at the company. In 2000, he left to join Goodyear, where he headed the Chemicals business and then served as president, North American Tire.

He takes the helm from Wayne Hewett, who resigned as president and CEO, and was also a director of Momentive.

“I am happy to be joining Momentive at this critical time,” said Rich. “I believe that my executive experiences at Goodyear, combined with my intimate knowledge of Momentive’s strengths and opportunities from my time at GE Silicones, make me an ideal candidate to lead the business toward further growth.”

“This is a kind of coming home for me,” Rich said. “When I had the opportunity to return to the silicones industry and rejoin a company I knew a lot about, I was thrilled. It’s a chance to come back to the technology and business that I love.”

New Challenges, New Opportunities

The adhesives and sealants industry continues to evolve, and Momentive has adapted as well. While Momentive is a new name, the company has been in the silicones industry for 60 years. In 2006, the company introduced SnapSil* RTV230A/B adhesive, a two-component, room temperature cure silicone adhesive that features a tack-free time of approximately six minutes, primerless adhesion to many substrates, and greater flexibility in usage and storage. The company dubbed it ‘the new glue’ because of its advances in room temperature cure speed and storage conditions, among other features.

In 2007, improvements were announced that extended the shelf life of Momentive’s AnchorSil* 2000 anchorage additive, a 100% active organo-functional polymer designed to aid the anchorage of thermally cured solventless silicone release coatings to polyester films. Enhancements include new manufacturing, transportation and storage processes that improve product stability and help preserve its performance.

“We want to leverage the excitement we have of being new and the opportunities we have by being global and still recognize that we’ve been around for a long time and understand the industry,” Rich said. “Our challenge is how to keep finding unique solutions for our customers. If we can find those solutions, the customers will recognize the value that we bring to them – whether it’s reformulating or creating a new solution.

“Everyone around the world knows the GE brand; we’re working hard to make sure people know the name ‘Momentive’ and associate that with the products we supply.”

The silicones industry is forecast to grow at a CAGR of 6% from 2005-2010, which means there are many opportunities for growth within the industry.

An advantage of silicones, Rich said, is that they are incorporated into many end-use applications. He noted health and personal care and electronics as two growth areas, although most sectors that the company is involved in are growing.

Rich also hopes to make some changes to make the company more effective and focused on customer solutions.

“Our growth is only limited by our ability to think up new applications and new products, which is exciting,” he said.

About the Company

Momentive Performance Materials Inc. is a premier specialty materials company, providing high-technology materials solutions to the silicones, quartz and ceramics markets. The company is a global leader with worldwide operations, a robust product portfolio, industry-leading research and development capabilities, and a long tradition of service excellence. Momentive Performance Materials Inc. is owned by an affiliate of Apollo Management, L.P. For more information, visit www.momentive.com.

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