Innophos Holdings, Inc. announced that its Board of Directors has appointed Dr. Kim Ann Mink, Ph.D., as Chief Executive Officer and President, effective December 14, 2015. Dr. Mink succeeds Randy Gress, who is retiring from the Company after eleven years of service. Mr. Gress will continue to serve as Chairman during a transition period, expected to last approximately three months. After the transition period, the Company said Mr. Gress will step down as Chairman and director, and it expects Dr. Mink will be appointed to the Board of Directors.
Gary Cappeline, Lead Independent Director of the Innophos Board, said “Kim Ann’s track record and depth of experience make her uniquely qualified to succeed Randy and lead the Company forward. We look forward to working with Kim Ann to execute our growth strategies and implement our operating efficiency initiatives in order to build on Innophos’ position as a leading producer of specialty grade phosphate and deliver enhanced value to our shareholders.”
Mr. Cappeline continued, “As the Company’s Chairman, CEO and President since its formation as an independent company in 2004, Randy helped build Innophos into a leading producer of specialty grade phosphate products that it is today. Through his leadership, Randy played a significant role improving the Company’s competitive position, expanding its business, and developing a strong innovation pipeline, all of which has delivered significant value to our employees, customers and shareholders. On behalf of the Innophos Board, I want to thank Randy for his leadership and wish him and his family well in his retirement.”
“Innophos has a strong reputation for its innovative specialty phosphate products that serve multiple important end markets, and being given the opportunity to lead such a distinguished company is a great privilege,” said Dr. Mink. “Innophos has a history of innovation and value creation, and I look forward to working closely with the outstanding leadership team and the Company’s employees to drive growth and strengthen performance. I am excited about our prospects and am confident that we will continue to deliver high-quality products and best-in-class customer service, all while continuing to deliver enhanced value for our shareholders.”
“Serving Innophos alongside our 1,500 dedicated employees and growing this company for more than eleven years has been a privilege and a highlight of my professional career,” said Mr. Gress. “Since our initial public offering in 2006, Innophos has become a leading specialty phosphate and nutritional ingredient producer with best-in-class products. It is clear to me that our Company is ready for the next phase of our development and growth strategy. For this reason, I want to pass the helm to new leadership and to retire in an orderly fashion that is best for the Company and for me and my family. As I transition to the next chapter, I have great confidence in the Company’s continued growth and prosperity under Kim Ann’s leadership and am committed to supporting a seamless leadership transition.”