RPM International Welcomes New Board Members
RPM International Inc. (NYSE: RPM) is excited to announce the addition of three highly qualified individuals to its board of directors: Craig S. Morford, Christopher L. Mapes, and Julie A. Beck. These appointments are pivotal as RPM aims to broaden its leadership capabilities and foster diversity within its board, all while striving for long-term growth and enhancing shareholder value.
Immediate Board Expansion
The appointments of both Craig S. Morford and Christopher L. Mapes are effective immediately, while Julie A. Beck's term will begin on April 7, 2025. With these new additions, RPM’s board will now comprise 12 members, reinforcing the company's commitment to strong corporate governance.
Craig S. Morford's Leadership Experience
Craig S. Morford brings considerable experience to the RPM board, having previously served from 2013 to 2019. With a career spanning over four decades, Mr. Morford recently retired from his position as general counsel and corporate secretary at ExxonMobil Corporation (NYSE: XOM), where he oversaw critical legal and compliance operations involving litigation, mergers and acquisitions, and environmental regulations.
Before his tenure at ExxonMobil, Mr. Morford held the role of chief legal and compliance officer at Cardinal Health, Inc. (NYSE: CAH). His impressive career includes being appointed by President George W. Bush as acting deputy attorney general, along with serving as U.S. attorney in Detroit and Nashville. His vast experience in governance, compliance, and risk management positions him to contribute valuable oversight at RPM as the organization continues its global expansion.
Christopher L. Mapes' Strategic Vision
Another key addition, Christopher L. Mapes, formerly served as the executive chairman of Lincoln Electric (Nasdaq: LECO). While in this role from January 2024 to December 2024, he significantly improved the company’s performance, positioning it as a leader in manufacturing innovation.
Prior to leading Lincoln Electric, Mr. Mapes was an executive vice president at A.O. Smith Corporation (NYSE: AOS). With over 30 years in the industrial manufacturing sector, he brings unparalleled operational insight and leadership to RPM. His experience on the boards of several leading companies such as The Timken Company (NYSE: TKR) will also benefit RPM's strategic initiatives, particularly the MAP (Margin Achievement Plan).
Julie A. Beck's Financial Acumen
Julie A. Beck will enrich the board with her extensive financial experience. Currently serving as the senior vice president and CFO of Terex Corporation (NYSE: TEX), Ms. Beck will transition to a board position at RPM starting April 7, 2025. Her impressive track record spans over three decades, focusing on growth through strategic planning, M&A, and digital transformation efforts.
Before her time at Terex, Ms. Beck held pivotal roles at NOVA Chemicals and Joy Global, solidifying her reputation as a financial leader. Her expertise in global finance and IT strategy positions her well to guide RPM’s operational strategies moving forward.
Enhancing Governance and Diversity
RPM Chairman & CEO Frank C. Sullivan expressed enthusiasm about the new board members, stating, “We are thrilled to welcome Craig, Chris, and Julie to our board of directors. Their collective experiences in leadership, governance, and financial strategy will provide invaluable perspectives as we pursue our strategic goals.”
He further emphasized the importance of fresh perspectives on the board, allowing for the integration of new ideas that align with RPM’s vision for the future. The introduction of these three distinguished individuals enhances the board's diversity of thought and experience, ultimately creating a stronger foundation for RPM’s mission of enhancing connectivity and efficiency within the company.
About RPM International Inc.
RPM International Inc. is renowned for its subsidiaries leading the way in specialty coatings, sealants, building materials, and related services. The company operates through four main sectors: consumer, construction products, performance coatings, and specialty products. Various trusted brands under RPM, like Rust-Oleum, DAP, and Varathane, cater to both consumer and professional markets, proving reliable in various applications, from home improvement projects to significant infrastructure undertakings. With a workforce of approximately 17,200, RPM continues to support its mission to help build a better world.
Frequently Asked Questions
1. Who are the new board members of RPM International Inc.?
The new board members are Craig S. Morford, Christopher L. Mapes, and Julie A. Beck.
2. When will Julie A. Beck start her term on the board?
Julie A. Beck's term will commence on April 7, 2025.
3. How many members will RPM's board have after these appointments?
With these appointments, RPM's board will have a total of 12 members.
4. What is RPM International Inc. known for?
RPM International Inc. specializes in coatings, sealants, and building materials through its various subsidiaries and is recognized for several trusted consumer and professional brands.
5. What are RPM’s core business segments?
RPM operates across four key segments: consumer, construction products, performance coatings, and specialty products.
