CINCINNATI, Dec. 21, 2010 /PRNewswire/ -- Kenneth E. Kutcher of Charlotte, N.C., has been named chief financial officer of RelaDyne, Inc., the equipment reliability management company that was formed last month to deliver broad-based lubrication services and products throughout the Midwest and Gulf Coast regions. He will assist as the company positions itself for rapid growth across the United States in a transforming lubricant industry.
Kutcher joins an experienced leadership team and will work closely with fellow executives in building a sustainable and competitive advantage as well as strategic direction for a company that Kutcher said, "is taking a leadership role in executing a game-changing approach to improving the reliability of its customers equipment." Kutcher will be working at RelaDyne's corporate offices in Cincinnati.
As CFO, he will support the integration of the four founding companies of RelaDyne by establishing reliable internal controls and reporting systems, and a framework for solid planning, analysis and execution.
Kutcher will be responsible for establishing all corporate finance systems and operations, while working as part of the management team to efficiently serve RelaDyne's three core markets: industrial, commercial and automotives.
"I am thrilled to be part of this high-growth company, to be working in an entrepreneurial environment, and to be joining a management team that is without exception a very talented team," he said.
"Ken brings to RelaDyne experience in both public and private companies," said CEO Larry Stoddard. "His background includes a number of major corporate integrations involving global operations, consolidation of information technology, risk management, corporate reporting, governance, planning and treasury functions," Stoddard noted.
Kutcher's career path features increasing levels of responsibility and experience in finance, and a successful tenure as general manager of a $650 million global fiber business in Charlotte, N.C., Filter Products, a business line of Hoechst Celanese Corporation (now Celanese Corporation).
Most recently, Kutcher was Executive Vice President and Chief Financial Officer of Wellman Holdings, Inc., a leader in polyester resin for rigid plastic packaging applications. Immediately prior to that, Kutcher was a managing director with the private-equity firm, Heartland Industrial Partners, Stamford, Conn., for several years, where he managed the firm's investments in three portfolio companies. He was involved in acquisitions and strategic planning, several financings and relationships with money-center banks and rating agencies. During his term, he was also active in a $235 million IPO of a textile company.
Kutcher's career, which began as audit manager for Coopers & Lybrand (now PricewaterhouseCoopers) in Newark, N.J., later included five years at Springs Industries, Inc., Fort Mill, S.C., where he was executive vice president, chief financial officer and treasurer. There, he managed all financial activities for this $2.7 billion private equity-backed home furnishings company. He also worked in a publicly-traded company, serving as CFO and secretary for Greif Brothers Corporation (now Greif Corporation), Columbus Ohio, an industrial packaging and container company with global operations.
Kutcher's global financial experience also includes previous senior executive positions with chemical industry leader Celanese AG (now Celanese Corporation), and Trevira, the global polyester business of the former Hoechst AG.
The New Jersey native received his B.S. in Accounting, Magna Cum Laude from Seton Hall University in 1975, and later attended the Chemistry for Executives program at Duke University.
RelaDyne, Inc., headquartered in Cincinnati, Ohio, provides integrated equipment reliability management products and services for industrial, commercial, transportation and automotive businesses in the United States. Four industry leaders -- Mid-Town Petroleum, Inc. (Bridgeview, Ill.), Oil Distributing Company (Cincinnati, Ohio), The Hurt Company, Inc. (Houston, Texas) and Pumpelly Oil Company LLC (Sulphur, La.) -- joined to form RelaDyne on Nov. 9, 2010. Its innovative Field Reliability Management (FRM) platform of services is designed to enhance the operations of companies involved in process manufacturing, utilities, food and beverage processing, mining equipment and commercial fleets. The company also benefits from an exclusive relationship with Mansfield Oil as well as the support of its business-building partner, Kidd & Company, and AEA Investors LP, which manages funds worth approximately $5 billion of invested and committed capital. For more information, visit www.RelaDyne.com
SOURCE RelaDyne, Inc.