Momentive appoints new CEO

Waterford, New York - Momentive Performance Materials Inc. has recently announced that Jack Boss has been named chief executive officer and president of the company and its ‘indirect parent’ MPM Holdings Inc.

In a December news release the company also announced that Bradley Bell has been named chairman of the board of MPM Holdings, each effective 15 Dec 2014.

Last October, Boss started to serve as interim CEO and president of Momentive and MPM Holdings. He joined the company as executive vice president and president of the silicones and quartz division in March 2014.

Boss’s career, said the release, spans more than 30 years in the speciality chemicals and prior to joining Momentive, he was president of Honeywell Safety Products at Honeywell International.

Bell has served as a director of MPM Holdings since October, 2014. He has over 30 years’ combined experience as an executive in the chemical and manufacturing industries.

Bell served as executive vice president and chief financial officer of Nalco Holding Co. For seven years and prior to that as a senior vice president and chief financial officer of Rohm & Haas Co. for six year.

Momentive had announced earlier in October 2014 that it had successfully completed its financial restructuring and emerged from Chapter 11 of US Bankruptcy Code.

As a result of the restructuring, Momentive eliminated approximately $3 billion (€2.6 billion) of debt from its balance sheet with a liquidity of approximately $360 million and net debt of approximately $1.2 billion.