Horan retirement results in additional promotions at Rust-Oleum Corporation and DAP Products Inc.
RPM International Inc. (NYSE: RPM) today announced that Bill Spaulding, president of Rust-Oleum Corporation, will be promoted to RPM Consumer Group president, effective September 1. He will succeed Terry Horan, who will retire on August 31.
Over the course of his 22-year career at the company, Spaulding has served in several key positions at Rust-Oleum, including president of North America and executive vice president of consumer sales and marketing. Spaulding earned a bachelor’s degree in economics from Indiana University Bloomington and an MBA from Northern Illinois University.
In conjunction with Spaulding’s appointment, Jeff Ackerberg, president of DAP Products Inc., will be promoted to president of Rust-Oleum. Prior to joining DAP, Ackerberg held senior executive leadership positions with global organizations such as Grohe AG; ACCO Brands, Inc., Kohler Company, Bosch and Emerson Electric. Ackerberg earned a bachelor’s degree in business from North Central College, and holds his MBA from Northwestern University, J.L. Kellogg School of Management.
Additionally, Mark Heird, Rust-Oleum executive vice president of sales in North America, will be promoted to president of DAP. Heird has held multiple leadership roles at Rust-Oleum over the course of his 21 years with the company. Previously, he served as a sales executive with The Clorox Company and Procter & Gamble. Heird earned a bachelor’s degree in marketing from University of Maryland, College Park.
“I look forward to working with Bill in his new role as Consumer Group President along with Jeff and Mark in their new roles and the entire leadership team of the Consumer Group,” stated Frank C. Sullivan, RPM chairman and CEO. “I am also incredibly excited that we have leaders with great experience and proven track records of success to carry our Consumer Group businesses to new levels of growth, success and profitability for many years to come. That we were able to fill these vitally important leadership roles internally speaks to the depth of talent and dedication we have across the RPM Consumer Group companies.”
Horan has held various leadership roles over the course of his 17-year career at RPM, including positions with DAP and Rust-Oleum. He was also president of Robert Bosch Tool Corporation and The Master Lock Company.
“As the president of the Consumer Group, Terry created the blueprint and strategy for our success in steering the business to become the largest group within RPM for the past two years,” continued Sullivan. “He developed a leadership team capable of taking the RPM Consumer Group to even greater heights of customer innovation, collaboration and success. I am grateful to Terry for his 17 years of dedicated service and wish him the best in his retirement.”
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio with hundreds of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces, to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs 15,500 individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Russell L. Gordon, vice president and chief financial officer, at 330-273-5090 or firstname.lastname@example.org.
This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest rates, and the viability of banks and other financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas- and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) the timing of and the realization of anticipated cost savings from restructuring initiatives and the ability to identify additional cost savings opportunities; (j) risks related to the adequacy of our contingent liability reserves; (k) risks relating to the Covid pandemic; (l) risks related to adverse weather conditions or the impacts of climate change and natural disasters; and (m) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2021, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.
Russell L. Gordon
vice president and chief financial officer