STANDARD INDUSTRIES APPOINTS BOB PATEL TO NEW POSITION OF PRESIDENT, STANDARD INDUSTRIES

Ed Sparks, former President, Titanium Technologies & Chemical Solutions at
The Chemours Company, Succeeds Patel as CEO of W. R. Grace & Co.

NEW YORK, April 5, 2023 /PRNewswire/ -- Standard Industries, a privately held global industrial company operating in more than 80 countries with over 20,000 employees, today announced the appointment of Bob Patel, CEO of W. R. Grace & Co., to the newly created position of President, Standard Industries, reporting to co-CEOs David Millstone and David Winter. Standard also announced that veteran chemical industry executive Ed Sparks will succeed and report to Patel as CEO of Grace, effective immediately.

Standard Industries has grown and evolved significantly over the past several years. Standard Building Solutions—which now comprises GAF, GAF Energy, BMI, Schiedel, SGI, and Siplast—is collectively the largest roofing and waterproofing company in the world. In 2021, Standard launched Standard Performance Materials with the acquisition of Grace, a global leader in refining technologies and specialty chemicals.

In his new role, Patel will identify and pursue opportunities to expand the Standard Performance Materials portfolio and take a global view of Standard's operating companies to promote innovation, harness operational synergies, create efficiency, develop talent and provide strategic guidance to all operating CEOs. Patel joined Standard Industries in January 2022 to lead Grace and help architect Standard's investment in the advanced materials space.

"While Standard's companies will continue to operate independently under their respective leaders, we believe we can do more to identify, share and implement best practices as we grow our platforms," said Winter. "Bob Patel's decades-long record of driving businesses to achieve results over the long term properly positioned Grace, and we are excited for him now to bring his skills, experience and focus to our global operating companies."

"With Grace on the right path, now is the time to broaden Bob's focus to all of Standard's operating businesses as we enter our next phase of growth," said Millstone. "Ed Sparks's expertise leading organizations through transformational change makes him the perfect leader for the Grace of today and the Grace of tomorrow."

"We began a process of transformation that sets up the company to achieve lasting growth under Ed's leadership," said Patel. "I look forward to working with David and David on executing their vision of a modern industrial company by expanding our Performance Materials platform and leveraging scale and synergies across all of Standard's operating businesses."

Sparks joins Grace from The Chemours Company, a publicly traded chemical company spun off from DuPont in 2015. He most recently served as President of Titanium Technologies & Chemical Solutions. Patel will work with Sparks on the transition and will remain closely connected to Grace in his new role.

"Standard, Bob and the team at Grace have done a remarkable job revitalizing such an important company," said Sparks. "I am excited to join the incredibly talented team at Grace to finish that process and take the company to the next level by providing the best products, technologies and services to our global customers."

Prior to joining Grace, Patel served as CEO of LyondellBasell, one of the largest chemicals, plastics and refining companies in the world. He joined LyondellBasell in 2010 and was named CEO in January 2015. Before LyondellBasell, Patel served in a variety of global leadership roles at Chevron Corporation and Chevron Phillips Chemical Company for more than 20 years.

About Standard Industries

Standard Industries is a privately held global industrial company operating in over 80 countries with over 20,000 employees. The Standard ecosystem spans a broad array of holdings, technologies and investments—including both public and private companies from early to late-stage—as well as world-class building solutions, performance materials, logistics, real estate and next-generation solar technology. Throughout its history, Standard has leveraged its deep industry expertise and vision to create outsize value across its businesses, which today include operating companies GAF, BMI, Grace, GAF Energy, Siplast, Schiedel, SGI, and Standard Logistics, as well as Standard Investments and Winter Properties. Learn more at standardindustries.com.

About Grace

Built on talent, technology and trust, Grace, a Standard Industries company, is a leading global supplier of catalysts, engineered materials and fine chemicals. The company's two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies and services that enhance the products and processes of our customers around the world. With approximately 4,300 employees, Grace operates and/or sells to customers in over 60 countries. Learn more at grace.com.

Contact

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(212) 355-4449

SOURCE Standard Industries