GCP Applied Technologies Inc., a leading specialty construction chemicals and building products company, today announced that its Board of Directors has appointed Simon M. Bates as its President and Chief Executive Officer effective October 1, 2020. Bates will succeed Randy Dearth, who has served as the company’s President and CEO since August 2019. Craig Merrill, GCP’s Chief Financial Officer will assume the combined role of Interim CEO and Chief Financial Officer until Bates joins the company on October 1, 2020.
Bates, 54, joins GCP Applied Technologies following a 24-year career in the specialty construction chemicals and building products industries. Most recently, he served as President, Infrastructure Products Group, a division of CRH plc, with more than 85 locations globally. During his tenure, the business consistently delivered significant growth in both revenues and profitability. He brings deep industry experience, a strategic mindset and strong commercial and operational acumen. Prior to CRH, Bates served as Senior Vice President, Building Products at Westlake Chemical.
Peter Feld, Chair of the Board, said, “We are tremendously excited to welcome Simon to our team. We believe that he has exactly the right skill set and experience to lead GCP going forward and to build upon the company’s outstanding portfolio of products and technology. The Board looks forward to working closely with Simon and the rest of our talented executives as we build value for our shareholders, customers, and team members.”
Feld continued, “We would like to thank Craig for taking on this added responsibility during the transition. We would also like to thank Randy for his leadership over the past year and wish him well in his future endeavors.”
Bates said, “GCP Applied Technologies is a clear industry leader with a strong product offering, great technologies and loyal customers, and I am humbled and honored to be appointed CEO. I could not be more excited about the opportunity to work with the talented GCP team and to help enable GCP to achieve its full potential.”
The company also reaffirms its third quarter 2020 business trends and outlook as discussed in its earnings release and investor conference call for the second quarter 2020.
