Ingevity recently announced that Michael P. Smith has been named executive vice president and president of performance chemicals, strategy, and business development. He will report directly to Michael Wilson, president and CEO.

This new role reportedly combines Smith’s current responsibilities in the areas of strategy and business development with those of the executive vice president and president of performance chemicals. The position was previously held by Edward A. Rose, who is leaving the company.

“This reorganization is part of an effort to streamline our leadership team, flatten the organization, and reduce costs,” said Wilson. “In addition, several businesses within our Performance Chemicals segment continue to be affected by competitive pressures impacting prices and volumes. As such, it is imperative that we execute new and innovative strategies to enable the business to thrive despite the external environment. Mike’s experience managing transformation initiatives in a variety of businesses in the specialty chemicals sector–several of which faced similar circumstances–uniquely qualifies him for this role.”

Smith joined Ingevity in June 2016 as senior vice president of strategy and business development. Prior to joining the company, Smith spent 23 years with FMC Corp., most recently as vice president and global business director for FMC’s Health and Nutrition business.

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