Axalta Coating Systems (Philadelphia, Pa.; www.axaltacs.com) announced that its Board of Directors has appointed Terrence Hahn as Chief Executive Officer, effective September 4, 2018, succeeding Charlie Shaver, who served as Axalta’s Chairman and Chief Executive Officer since 2013. Mr. Hahn will also serve on Axalta’s Board of Directors. Mr. Shaver, who chose to step down as Chief Executive Officer to pursue a unique professional opportunity, will remain on Axalta’s Board and serve as Non-Executive Chairman, working closely with Mr. Hahn to ensure a seamless leadership transition.
Mr. Shaver said, “On behalf of Axalta’s Board, I want to welcome Terrence Hahn to the Company. We are confident that Terrence is a great choice to lead Axalta going forward. His accomplishments as an executive with over a decade of domestic and international experience across multiple business groups at Honeywell, along with his nearly two decades of previous experience in a variety of leadership roles at Air Products and Chemicals, make him a terrific fit for Axalta.”
“Since I became CEO more than five years ago,” Mr. Shaver continued, “we have prudently managed Axalta’s business and balance sheet, positioning the Company to capitalize on opportunities as they arise andgenerate long-term shareholder value. I am very proud of our achievements as well as our excellent prospects for the future. Serving as CEO of Axalta has been an honor and a privilege. It was an extremely difficult decision to step away from an executive role at Axalta, but I am confident that Terrence has the right skillset to take Axalta to the next level of growth and development.”
Mr. Hahn commented, “I am honored to join Axalta at this dynamic time for the Company and the coatings industry. Axalta has leading positions, a terrific executive team, strong global presence, and top brands. I am excited about the tremendous opportunity at Axalta to drive organic growth through innovative and value-add offerings that will deepen existing customer relationships and attract new customers, as well as add inorganic growth through strategic acquisitions. I appreciate the Board’s confidence in me and look forward to working with Charlie and the Axalta leadership team to help drive the next phase of Axalta’s growth and build shareholder value.”