CPE News (7/7/2020) – Neo Performance Materials Inc. (TSX: NEO) has appointed Constantine E. Karayannopoulos as its new President & CEO, replacing Geoffrey R. Bedford, effective immediately.
Karayannopoulos has worked in senior executive positions at Neo and its predecessor companies for more than 20 years, including as Director, President, and Chief Executive Officer of Neo Material Technologies (NEM) (TSX: NEM) from 2005 until NEM was acquired in June 2012 for US $1.3 billion.
Karayannopoulos has stepped down as Chair of the board but will remain on the board as a director.
Claire M.C. Kennedy, Senior Advisor of Clients and Industries at Bennett Jones LLP and a director of Neo since October 2017, has taken over as Chair of the board.
Oaktree Capital Management is the controlling shareholder of Neo owning 69.3% of outstanding shares.
Toronto based Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders and magnets, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies.
photo credit: Neo Performance Materials
News Release
Neo Performance Materials Announces Management and Board Changes
Constantine E. Karayannopoulos Appointed as President and CEO
TORONTO, Canada, July 7, 2020 – Neo Performance Materials Inc. (“Neo”, the “Company”) (TSX:NEO), a global leader in the design, development and processing of advanced industrial materials, today announced changes to its executive management team and Board of Directors.
Neo’s Board of Directors is pleased to announce the appointment of Constantine E. Karayannopoulos as President and Chief Executive Officer of the Company, replacing Geoffrey R. Bedford, effective immediately. Mr. Karayannopoulos has worked in senior executive positions at Neo and its predecessor companies for more than 20 years, including as Director, President, and Chief Executive Officer of Neo Material Technologies (“NEM”) (TSX:NEM) from 2005 until NEM was acquired in June 2012 for US $1.3 billion.
“On behalf of the Board and the management team, I would like to thank Geoff for his decades of commitment and contribution to building the business and driving Neo’s ongoing product innovation for which Neo is known around the world,” said Mr. Karayannopoulos. “Neo would not be the robust global advanced materials manufacturer we are today without Geoff’s years of leadership as Neo’s CFO, COO, and CEO, and we wish him the very best as he embarks on his next chapter.”
“I intend to build on the work that Geoff has done in positioning Neo to take advantage of strategic growth opportunities that are presenting themselves,” said Mr. Karayannopoulos. “With a strong balance sheet, a superb financial partner and shareholder in our corner, and with deep knowledge and relationships in the advanced materials space, Neo is strongly positioned for strategic growth in key global markets.”
The Company is also pleased to announce the appointment of Claire M.C. Kennedy as the new Chair of the Board, effective immediately. Mr. Karayannopoulos has stepped down as Chair of the Board but will remain on the Board as a Director. Ms. Kennedy is Senior Advisor, Clients and Industries at Bennett Jones LLP. She has served as a Director of the
Company since October 2017 and serves on the Audit Committee and as Chair of the Corporate Governance and Nominating Committee. Ms. Kennedy was a member of the Board of Directors of Neo Material Technologies from February 2010 to June 2012 and served on the Audit Committee. Ms. Kennedy is Lead Director of the Bank of Canada and Chair of its Audit & Finance Committee. She also is a Director of Alamos Gold Inc., which is listed on the TSX and NYSE. Ms. Kennedy received her ICD.D designation from the Institute of Corporate Directors and she has completed the Making Corporate Boards More Effective program at Harvard Business School and the Advanced Management Program at the University of Chicago’s Booth School of Business. She is a Professional Engineer and holds a Bachelor of Laws degree from Queen’s University and a Bachelor of Applied Science degree in Chemical Engineering from the University of Toronto. Claire is also Chair of the Governing Council of the University of Toronto and is a member of the Dean’s Advisory Board at the Rotman School of Management at the University of Toronto.
About Neo Performance Materials
Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders and magnets, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products help to deliver the technologies of tomorrow to consumers today. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals. Neo is headquartered in Toronto, Ontario,
Canada; with corporate offices in Greenwood Village, Colorado, US; Singapore; and Beijing, China. Neo operates globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore, Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit www.neomaterials.com.
Information Contacts
Ali Mahdavi
Investor Relations
(416) 962-3300
Email: a.mahdavi@neomaterials.com
Jim Sims
Media Relations
(303) 503-6203
Email: j.sims@neomaterials.com