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Knavish who has served as PPGβs chief operating officer since March, will succeed Chairman and CEO Michael McGarry in the role of CEO. McGarry also has announced to the PPG Board of Directors his intention to retire as Executive Chairman and as a director of the company, effective October 1, 2023.
βI want to thank Michael and the PPG Board of Directors for their trust and confidence as we continue to drive PPG forward. Our global business portfolio remains well positioned for future growth and to successfully navigate through the current global economic challenges,β said Knavish. βI look forward to continuing to work with the more than 50,000 PPG people across the world to support our customers, deliver excellent business performance and create additional shareholder value.β
βTim is a highly respected business leader who has played an instrumental role in PPGβs growth across the markets we serve,β McGarry said. βHis leadership has been invaluable as PPG has executed several important strategic actions, including PPGβs recent acquisitions and successful integrations of Tikkurila and Ennis-Flint, now PPGβs Traffic Solutions business. Timβs proven ability to lead the implementation of our global business strategies, and his focus on continuously Michael McGarry
βOn behalf of the PPG Board of Directors, we want to congratulate Tim and also recognize Michaelβs outstanding leadership and strategic vision in guiding PPG through some of the most challenging periods in its nearly 140-year history,β said Hugh Grant, PPG independent lead director and retired chairman and chief executive officer, Monsanto Company. βMichaelβs leadership in completing several of PPGβs largest acquisitions has made a significant impact on expanding the companyβs portfolio and reach in key growth markets. We thank him for his many contributions and look forward to benefiting from his continued leadership as executive chairman of PPGβs Board of Directors. As we look ahead, the board fully supports Tim and the entire PPG team as they work to achieve future growth and increased value for our shareholders.β