NewMarket Corporation (NYSE:NEU) today announces that C.S. Warren Huang, President of Afton Chemical Corporation, intends to retire on April 1, 2013. Dr. Huang has been with the company for 32 years, and he has served in a number of areas of increasing responsibility over that time period. Included in his roles were Vice President of R&D VP and Managing Director, Asia Pacific; and Senior VP of Fuel Additives. Dr. Huang was instrumental in the creation of Afton Chemical in 2004. Afton Chemical, under his leadership, has seen its sales revenue grow by over 175% during this period, exceeding $2 Billion for the first time in 2011.
Teddy Gottwald, CEO of NewMarket, commented, "I have had the pleasure of working with Warren for more than 20 years. He has excelled in every role he has held. As the only President Afton Chemical has had, his mark is all over Afton. In addition to driving geographic and product line expansion through our Customer Intimacy model, Warren has developed a strong team of leaders at all levels in the company, assuring our continued success. We will miss his outstanding leadership, but his legacy will live on in the hands of an experienced and capable leadership team. We all wish him well in his retirement."
Replacing Warren as President of Afton Chemical will be Robert A. Shama effective January 1, 2013. At such time, Dr. Huang will assume a senior advisory role until his retirement. See our separate announcement for more details.
NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated chemical blends to market-general additive components, the NewMarket family of companies provides the world with the technology to make fuels burn cleaner, engines run smoother and machines last longer.