CONSHOHOCKEN, Pa., Nov. 18,
2024 /PRNewswire/ -- Quaker Houghton ("the Company";
NYSE: KWR) announced today that its Board of Directors has
appointed Joseph Berquist as Chief
Executive Officer and President, and a member of the Board of
Directors, effective immediately. Mr. Berquist, who succeeds
Andy Tometich as Chief Executive
Officer and President, most recently served as Executive Vice
President and Chief Commercial Officer for Quaker Houghton.
Michael F. Barry, Chairman of the
Board of Directors of Quaker Houghton commented, "I want to thank
Andy for his three years of leadership at Quaker Houghton. His
outside perspective and experiences were valuable to help position
the Company for future growth. The Board's plan since my
retirement has been, ultimately, to have a CEO with detailed
working knowledge and experience with our specific industry,
customers, and products. That detailed familiarity with the
business will help drive shareholder value as we grow through
organic market share gains as well as acquisitions."
Mr. Barry continued, "Joe has demonstrated exceptional
leadership at Quaker Houghton throughout his career. Having
personally worked with Joe for more than 25 years, I know him to be
a highly regarded leader with an indisputable knowledge and passion
for this industry, our customers, and our people. His vision and
proven track record in delivering above-market growth for Quaker
Houghton is precisely what is needed as the Company enters this
next chapter."
"I am honored to have the confidence of our Board of Directors
to lead this organization at such an exciting time for Quaker
Houghton", Mr. Berquist said. "I look forward to continuing to work
alongside my remarkable colleagues to enhance Quaker
Houghton's position as the trusted global leader in industrial
process fluids and services. We have a strong foundation and proven
business model with an opportunity to add scale, strengthen our
culture, and deliver long-term sustainable value to our customers
and our shareholders."
Since joining Quaker Houghton in 1997, Mr. Berquist has been
instrumental in the execution of the Company's growth.
In 2008, he was promoted to the Company's executive leadership
team as Managing Director North America, where he drove several
consecutive years of revenue and profitability improvement. Mr.
Berquist successfully co-led the integration planning of the 2019
Quaker Houghton combination, a transaction that nearly doubled the
Company's size, and generated synergies in excess of $80M. During his tenure, he has been involved in
executing 24 of the Company's acquisitions. In 2019, Mr.
Berquist assumed the role of Chief Strategy Officer, where he led
the organization's strategy development. In 2023, Mr. Berquist
was appointed to the newly created position of Executive Vice
President, Chief Commercial Officer with commercial responsibility
over all Quaker Houghton's global businesses.
About Quaker Houghton
Quaker Houghton is the global
leader in industrial process fluids. With a presence around the
world, including operations in over 25 countries, our customers
include thousands of the world's most advanced and specialized
steel, aluminum, automotive, aerospace, offshore, container,
mining, and metalworking companies. Our high-performing, innovative
and sustainable solutions are backed by best-in-class technology,
deep process knowledge and customized services. With approximately
4,400 employees, including chemists, engineers and industry
experts, we partner with our customers to improve their operations
so they can run even more efficiently, even more effectively,
whatever comes next. Quaker Houghton is headquartered in
Conshohocken, Pennsylvania,
located near Philadelphia in
the United States. Visit
quakerhoughton.com to learn more.
Forward-Looking Statements
This press release contains
"forward-looking statements" that fall under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and the Securities Act of 1933, as amended. These statements can be
identified by the fact that they do not relate strictly to
historical or current facts. These forward-looking statements
include statements with respect to our beliefs, plans, objectives,
goals, expectations, anticipations, intentions, financial
condition, results of operations, future performance, and business,
and statements that include the words "may," "could," "should,"
"would," "believe," "expect," "anticipate," "estimate," "intend,"
"outlook, "target", "possible", "potential", "plan" or similar
expressions. We have based these forward-looking statements on
assumptions, projections and expectations about future events that
we believe are reasonable based on currently available information.
Our forward-looking statements are subject to risks, uncertainties
and assumptions about the Company and its operations that are
subject to change based on various important factors, some of which
are beyond our control and could cause our actual results to differ
materially from expected and historical results. Therefore, we
caution you not to place undue reliance on our forward-looking
statements. For more information regarding these risks and
uncertainties as well as certain additional risks that we face,
refer to the Risk Factors section, which appears in Item 1A of our
Annual Report on Form 10-K for the year ended December 31, 2023, and in subsequent reports
filed from time to time with the Securities and Exchange
Commission. We do not intend to, and we disclaim any duty or
obligation to, update or revise any forward-looking statements to
reflect new information or future events or for any other reason.
This discussion is provided as permitted by the Private Securities
Litigation Reform Act of 1995.
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SOURCE Quaker Houghton
