CLEVELAND, April 30, 2018 /PRNewswire/ -- PolyOne Corporation (NYSE: POL), a premier provider of specialized polymer materials, services and solutions, today announced that Michael A. Garratt will serve as president of Specialty Engineered Materials (SEM) on an interim basis. Mr. Garratt replaces Craig M. Nikrant, who is pursuing an opportunity outside of PolyOne.
With more than 27 years of experience in the specialty polymer sector, Mr. Garratt joined PolyOne in 2013 as president of Performance Products & Solutions (PP&S), where he served until his appointment to chief commercial officer in 2016. As president of PP&S he established and led much of the commercial excellence efforts that had delivered a 15% annual increase in operating income since his arrival. He further inspired innovation within the segment that led to expansion into specialty applications such as LED lighting and medical device housings.
Most recently as chief commercial officer for all of PolyOne, Michael has overseen the significant expansion of commercial resources within the company. Over the last three years, PolyOne has increased sales, marketing and technology associates by more than 20%, driving the largest increase in organic sales growth since coming out of the recession almost ten years ago.
"Michael has a proven track record of leading global teams and delivering specialty innovation and growth," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "I am confident he can accelerate the plans and strategic investments we have in place for SEM until a full-time successor is named."
"I'd also like to thank Craig for all his contributions to PolyOne over the last 12 years. He was a catalyst for needed change during the early years of our specialty transformation, and we wish him all the best in the future," Mr. Patterson added.
Mr. Garratt's chemical career began with The Dow Chemical Company and later DuPont Dow Elastomers, a global joint venture. Prior to joining PolyOne he previously held the positions of president at Marmon Utility and chief operating officer of Excel Polymers. Mr. Garratt holds a bachelor's degree in applied chemistry from McMaster University in Hamilton, Ontario, Canada, and an MBA from University of Toronto, in Toronto, Ontario, Canada.
PolyOne Corporation (NYSE: POL), with 2017 revenues of $3.2 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is an ACC Responsible Care® certified company committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
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SOURCE PolyOne Corporation