Fischer elected next CEO of Olin Corp.; Rupp to remain as chairman
From Illinois Business Journal news services
CLAYTON, Mo. — Olin Corp. announced Friday that John E. Fischer, Olin’s president and chief operating officer, has been elected by the board to succeed Joseph D. Rupp as Olin’s president and chief executive officer, effective May 1.
Olin also announced that the board of directors intends to nominate Fischer to be elected as a director at Olin’s upcoming 2016 annual meeting of shareholders. Rupp will remain as chairman.
Fischer, 60, has been with Olin for 30 years, serving as president and COO since 2014. He was Olin’s Chief Financial Officer from 2005-2014. In addition to his financial and information technology responsibilities, he has led Olin’s strategic planning.
He is currently leading the integration of the recently acquired businesses from The Dow Chemical Co. into Olin.
Fischer said, “Olin is an extraordinary company, with a fantastic heritage and an even more exciting future. I am honored to have the opportunity to lead Olin and build on its market leading positions.”
Rupp, who will turn 66 in May, has been with Olin for 44 years. He became Olin’s CEO in 2002 and was elected chairman in 2005.
“I believe that John Fischer is well prepared to lead Olin as its CEO,” Rupp said. “He has been instrumental in what we have achieved here at Olin and he played a leading role in the successful completion of the Olin-Dow transaction.”
Richard M. Rompala, Olin’s lead director, said, “On behalf of Olin’s board, I want to thank Joe Rupp for his leadership as CEO and his many years of dedicated service to the company. Under John Fischer’s leadership, we are confident that Olin will continue to succeed and will take advantage of the opportunities to create shareholder value as a result of the synergies created by the Olin-Dow transaction.”
Olin Corp. is a global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition, including major operations in East Alton. The chemical products produced include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach and hydrochloric acid.
Winchester’s principal manufacturing facilities produce and distribute sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.