NEW YORK (TheStreet) -- TheStreet's Jim Cramer has crowned PPG's (PPG - Get Report) CEO Chuck Bunch as one of his 21 "bankable CEOs." Cramer is co-manager of the Action Alerts PLUS charitable trust portfolio.
PPG is headquartered in Pittsburgh and manufactures paints, specialty coatings, optical materials and chemicals. At the close on Thursday, PPG stock was at $193.69. The shares are up 45.9% over the past year.
Cramer lauds Bunch for his foresight. He was "the first to recognize that you have to get out of commodity chemicals and be in proprietary chemicals" in order to best the competition. Bunch's strategy helped PPG fight back against the "knock-offs" and cheap Chinese products.
"The man has a vision," Cramer said.Bunch seeks to "dominate" the coatings market in growth areas. Plus "he's the best paint play in the country," Cramer said -- and that includes competitor Sherwin-Williams (SHW). In the chemicals and coatings field, Cramer sees PPG as well ahead of Dow Chemical (DOW) and DuPont (DD). Cramer said he admires Ellen Kullman, DuPont's CEO, but Chuck Bunch is more bankable. --Written by Nora Morrison in Cleveland. Follow @NoTicker
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