Ferro Corp. recently announced that James F. Kirsch has stepped down as president and CEO. The company’s Board of Directors also accepted Kirsch’s resignation from the board. Peter T. Thomas, operating vice president of Polymer and Ceramic Engineered Materials, has been named interim president and CEO. The board has reportedly engaged a third-party search firm to assist in the search for a permanent successor to Kirsch and will consider both internal and external candidates. William B. Lawrence, a member of Ferro’s Board of Directors, is serving as acting chairman of the board.

“On behalf of the entire board, I want to thank Jim for his dedication and many contributions to Ferro,” Lawrence said. “Since late 2004, he was instrumental in strengthening our balance sheet, developing a strong company culture and improving our organizational processes, but the board and Jim have agreed that now is the right time to identify new leadership for the future. Through this transition, the board remains committed to the previously announced strategic review of our solar pastes business, and to aggressively pursuing actions to improve profitability and build shareholder value.”