In times of uncertainty, it is easy to find comfort in the tried and tested, which appears to be exactly what US compounder and distributor A. Schulman (Akron, Ohio; www.aschulman.com) is doing. Just days after having lowered its forecast for full-year 2016 adjusted EBITDA from USD 245m-250m to USD 225m-230m (see Plasteurope.com of 15.08.2016), the company on 18 August said CEO Bernard Rzepka would step down from his post, which will once again be filled by current chairman Joseph Gingo. The 71 year old held the reins at the company from 2008-2014, when he passed the baton on to Rzepka (see Plasteurope.com of 25.06.2014).

When announcing the decision, the company board said it is confident that Gingo will “restore A. Schulman’s operational and financial performance to the high level our shareholders expect.” The old-new CEO announced that he will implement a comprehensive review of the group’s current business plan, taking into account near- and longer-term global end market developments, too. “Like our fellow shareholders, the board is not satisfied with the company’s less-than-optimal performance throughout fiscal 2016,” Gingo said, adding that, “the time has come to conduct a comprehensive review of our business plan and strategic execution.”

Gingo added that additional information on the process would be made available “as appropriate, when appropriate.” A. Schulman is due to publish its Q4 and full-year 2016 results as well as its fiscal 2017 earnings guidance on 26 October.