Hallstar announces separation into two companies 7th June 2018
Specialty chemical company Hallstar has announced an upcoming change to the organization of its global business, as well as new leadership roles. On October 1, 2018, Hallstar will begin to operate as two commercial companies – Hallstar Industrial Solutions Company and Hallstar Beauty & Personal Care Company.
John Paro, Chairman, President and Chief Executive Officer, sees this evolution at Hallstar as both a forward-looking, invigorating deployment of its global resources, as well as a direct response to market needs. “I have always taken great pride in both sides of the business, and how both use our remarkable ester chemistry to address customers’ issues in a wide variety of industries. At the same time, we recognize that the landscapes of Industrial Solutions and Beauty & Personal Care differ significantly in terms of client behavior and product innovation. Setting ourselves up as two companies will allow our people to continue to do what they do best and focus fully on growth in their specific industry.”
Paro will remain chairman and CEO of The Hallstar Company, but will relinquish the title of president. Instead, Hallstar Industrial Solutions Company and Hallstar Beauty & Personal Care Company will both have their own president who will be responsible for the respective company’s operation and financial results. “It’s the right time for this next chapter, both for me and for the company,” Paro says. “Seeing new leadership at the helm of these two successful businesses will be gratifying. Hallstar has achieved years of growth and innovation, and its current portfolio of breakthrough technology is second-to-none – but I am 100% sure that our two new presidents will unlock more potential and take Hallstar further than I could even imagine.”
Effective October 1, Robert S. Hu, currently Hallstar Vice President, EMEA, APAC, and Global Innovation, will become president and CTO of Hallstar Beauty & Personal Care. An executive search is underway for a new president of Hallstar Industrial Solutions. Both Damian Marshall in Industrial Solutions and Varun Mathur in Beauty & Personal Care will continue in their key commercial and strategic roles, announced earlier this year, of vice president and general manager, and will collaborate closely with their new presidents.
Both companies will still serve customers across the globe, and expect to maintain Hallstar’s relationships with customers, distributors and vendors after October 1, Paro confirms. “We are announcing the restructuring early so disruption will be minimized. From now until October 1 and beyond, we want the entire talented team at Hallstar to understand our value optimization strategy and be a part of planning and building our remarkable future.”