MIAMI -- Platform Specialty Products chief executive Daniel Leever will step down once a suitable successor has been hired, the company announced today.
The company gave no indication whether it would look inside or outside to replace Leever, whose sale of MacDermid to Platform in late 2013 was the foundation for the emerging chemicals giant. Platinum said Leever is "fully engaged" in helping identify the next company CEO.
Company senior management, including COO Benjamin Gliklich, and CFO Sanjiv Khattri, will report to the Office of the Chairman, comprised of founder and chairman Martin Franklin, and Leever.
In a statement, Franklin said, "Dan has played a pivotal role in the creation of Platform and it is a testament to his energy, passion and "builder" mentality that Platform's annualized, pro forma revenues will have grown five fold from 2013 to 2015, including the impending acquisitions of OMG and Alent. With the upcoming closing of the Alent transaction, we respect Dan's decision that it is the right time for a new generation of leadership to continue the vision. Dan has contributed enormously to Platform's early success, and the values and performance of our first acquisition, the MacDermid business, set a high standard for all the other specialty chemical businesses within our group."
Leever, who is retiring after 33 years in the printed circuit materials industry, said, "It is with very mixed feelings that I reached the decision that this is the best time for the business and me personally to retire from the responsibilities involved with day to day operations. I believe in Martin's vision for Platform and am proud that I have been able to contribute to its past success and help lay a strong foundation for its continued success. While I'll surely miss the day to day interactions with the incredible employees who lay the foundation for all of Platform's success, I strongly believe that it is the right time for a new person to take over the reins of day to day operations and to be able to set out a clear execution strategy for the next years of consistent, profitable growth."