After more than a half-century at the head of custom compounder Teknor Apex, Jonathan Fain is stepping down as CEO. Another veteran of the plastics industry, Donald Wiseman will succed Fain. Most recently Wiseman held the position of CEO at Star Plastics and has held leadership positions at PolyOne, Cabot Microelectronics, and Americhem.
|Jonathan Fain, CEO of Teknor Apex for 51 years, is stepping aside.|
Fain will remain a major stakeholder and continue serving as chairman of the board, a position he assumed from his father, said Teknor Apex in the announcement. “I have had the privilege and honor to lead a great company for over 50 years, and while I am not retiring, I do want to hand over the day-to-day responsibility to someone who can drive to keep the company strong, growing, and build upon our culture,” said Fain in a prepared statement. During his 51-year tenure, company revenue has grown by more than 650% and it has gained a global footprint and completed 11 acquisitions, said Teknor Apex.
Wiseman will be relocating from Cleveland to work out of the Teknor Apex headquarters in Pawtucket, RI, where it began production of vinyl compounds in 1949. “I am very excited to join the leadership team of Teknor Apex," said Wiseman. “What began almost 100 years ago as a small venture in Rhode Island is now among the world’s leading custom compounders. I firmly believe that people and culture are a true competitive advantage for Teknor. I will demonstrate this by removing barriers, collaborating, and rewarding performance to ambitious goals and solve the most demanding business problems, all while emerging a more robust team," said Wiseman.