PPG Industries (NYSE: PPG) today announced several executive appointments that are effective Aug. 1: Frank S. Sklarsky, executive vice president, finance, will be appointed executive vice president and chief financial officer, as previously announced, and will continue to serve on PPG’s executive and operating committees. Sklarsky continues to report to Chairman and CEO Charles E. Bunch and to be based at PPG’s global headquarters in Pittsburgh. David B. Navikas, senior vice president, finance and chief financial officer, will be appointed senior vice president, strategic planning and corporate development. Navikas also continues to serve on the executive and operating committees, to report to Bunch, and to be based at PPG’s global headquarters in Pittsburgh. Kevin D. Braun, general manager, silica products, will be appointed vice president, global raw materials and Americas purchasing. In this new key leadership role, Braun will be an officer of the company. He will report to Stephen T. Lampe, vice president, purchasing and logistics, and be responsible for global raw material purchases and related transportation costs. In addition, the North American general purchasing group and the South American purchasing organization based in Sumaré, Brazil, will report directly to Braun. Anup Jain, vice president, strategic planning and corporate development, will be named vice president, silica products. In his new role, Jain will be responsible for driving the continued profitable growth of the core silica products and TESLIN(R) products groups as well as exploring new and different applications and innovations to add to these businesses. In his new role, Jain will report to Richard C. Elias, senior vice president, Optical and Specialty Materials. Jeffrey C. Davies, managing director, corporate development, will be named vice president, corporate development, and become an officer of the company. He will report to Navikas. Davies has been instrumental in driving several strategic portfolio-transformation initiatives, including the acquisition of AkzoNobel’s North American architectural coatings business, the separation of PPG’s commodity chemicals business and the divestiture of the automotive glass and services businesses. Thomas E. Maziarz, general manager, stores and dealers, architectural coatings, will be named vice president, stores and dealers, architectural coatings, North America, and will become an officer of the company. Maziarz will continue to lead the store and dealer channels of the architectural coatings business in North America, which recently expanded significantly with the acquisition of AkzoNobel’s North American architectural coatings business. He will continue to report to Scott Sinetar, vice president, architectural coatings, North America. PPG: BRINGING INNOVATION TO THE SURFACE.(TM)PPG Industries’ vision is to continue to be the world’s leading coatings and specialty products company. Through leadership in innovation, sustainability and color, PPG helps customers in industrial, transportation, consumer products, and construction markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Sales in 2012 were $15.2 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG). For more information, visit www.ppg.com. Bringing innovation to the surface is a trademark and Teslin is a registered trademark of PPG Industries Ohio, Inc. NOTE TO EDITORS: Photos are available upon request via email to firstname.lastname@example.org.
Jefferies analysts note that recent construction spending data indicates a cycle rotation away from construction-exposed names and toward industrial- and durable goods-levered firms could be playing out.