Axiall Appoints Timothy Mann, Jr. Interim President and CEO

Axiall Corporation announced on July 6th that Paul D. Carrico has retired as president, chief executive officer and a member of the Axiall Board of Directors, effective immediately. The Axiall Board has an active search process under way to select the next CEO to strengthen the company’s financial performance and drive enhanced shareholder value. Until that search is completed, Timothy Mann, Jr., executive vice president of strategy, general counsel and secretary, will serve as Axiall’s interim president and CEO. The Axiall Board has retained a leading executive search firm to assist with identifying qualified candidates. Both internal and external candidates are being considered for the role. Mr. Mann will work closely with the board and other members of Axiall's executive team to oversee the company's ongoing transformation during the transition period. Mark Noetzel, chairman of the Axiall Board, said, “On behalf of the board and everyone at Axiall, I want to thank Paul for his many valuable contributions over the past 16 years. The board has an active CEO search process under way to identify an executive with the right experience and capabilities to lead the company as it seeks to enhance its competitive position and drive strong returns for shareholders. While the search is in process, the company will continue to execute on its cost reduction and other value-enhancing initiatives.” Mr. Noetzel further commented, “Given Tim’s deep knowledge of Axiall and the support of the rest of the executive team, the board has great confidence in his ability to lead the company during this time.” Mr. Mann said, “Axiall possesses valuable assets, great people and strong market positions, which we can leverage to strengthen our financial performance and drive shareholder value. One such example is Axiall’s recently announced joint venture with Lotte Chemical, which provides us an affordable and actionable path to secure approximately half of the company’s ethylene supply at an advantaged cost position.” Prior to his appointment as interim president and CEO, Mr. Mann, 49, served as executive vice president of Axiall responsible for strategy, as well as general counsel and secretary. In this role, he led the Axiall team that designed and negotiated the joint venture with Lotte Chemical. For more than five years prior to joining Axiall in July 2012, he was a partner at the international law firm Jones Day, where his practice focused primarily on public and private merger and acquisition activities and corporate governance, including executive compensation and general corporate counseling. Prior to his time at Jones Day, Mr. Mann also served as CEO of Acsys, Inc., a publicly traded business services company that he led from its founding thru IPO and to a successful sale to a strategic acquirer. Mr. Carrico, 64, was appointed president and CEO of Georgia Gulf Corporation in 2008. In the early years of his tenure, he led Georgia Gulf back to financial health. In 2013, he transformed Georgia Gulf through the combination with PPG’s chlor-alkali business, creating Axiall Corporation. Mr. Carrico has served a critical role in support of Axiall’s transformation plan, including the recently announced joint venture with Lotte Chemical.


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