Specialty chemical manufacturer Albemarle (NYSE:ALB) has hired D. Michael Wilson, the former president of FMC's specialty chemicals group, as the new president of its catalysts solutions business unit, Albemarle announced today. Wilson's appointment becomes effective Oct. 1, 2013.
Prior to leading FMC's Specialty Chemicals unit, Wilson was also head of its industrial chemicals and lithium divisions. In his new role as president of catalysts solutions, Wilson will "lead all aspects of Albemarle's Catalyst Solutions global business unit," with responsibility for the unit's financial results.
Of Albemarle's existing three business lines -- catalysts, polymer solutions, and fine chemistry -- catalysts generated the most revenue in Albemarle's 2013 second quarter, making $233.8 million of its total $634.2 million in revenues.
Commenting on the appointment of Wilson, Albemarle CEO Luke Kissam said, "Michael's market-focused and customer-centric approach for expanding the catalyst business is perfectly aligned with our strategy."
In a related announcement, Albemarle said it intends to realign its operations into two global business units (GBU) effective Jan. 1, 2014. The two new GBUs will be the performance chemicals unit and catalyst solutions, which will be led by its incoming president.