Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
NewMarket Corporation (NYSE: NEU) (the “Company”) announced today that Regina Anne Harm, President of Afton Chemical Corporation (“Afton”), is stepping down from her role as President of Afton effective December 31, 2022, as she intends to retire in 2023. Mrs. Harm has worked for Afton for over 15 years, and she has served in a variety of areas of increasing responsibility during this time, culminating in the role of President in 2018. Prior to becoming President, her roles included: Vice President, Lube Additive Business Worldwide, VP, Performance Additives, VP, Supply, and Senior VP & Chief Operating Officer.
The Company also announced that, effective January 1, 2023, Brian D. Paliotti will succeed Mrs. Harm as President of Afton.
Mr. Paliotti, age 46, joined NewMarket in June 2008 as Financial Officer for Afton. Subsequently, he was appointed Senior Financial Officer of NewMarket Services Corporation in October 2011, promoted to Vice President, Finance of NewMarket Services Corporation in May 2013, and promoted to Vice President and Chief Financial Officer on January 1, 2015.
Also on October 31, 2022, the Company announced that William J. Skrobacz has been appointed Vice President and Chief Financial Officer of the Company, effective January 1, 2023. Mr. Skrobacz replaces Mr. Paliotti in such position. Mr. Skrobacz, age 62, has over 35 years of finance and accounting experience. Mr. Skrobacz joined the Company in May 2011 as Senior Manager, Business Assurance, was appointed Controller Designate in September 2012, and appointed Principal Accounting Officer and Controller of the Company on May 1, 2013.
Also on October 31, 2022, the Company announced that Gail C. Ridgeway has been appointed Principal Accounting Officer and Controller of the Company, effective January 1, 2023. Mrs. Ridgeway, age 48, replaces Mr. Skrobacz in such position. Mrs. Ridgeway has over 25 years of accounting, tax and finance experience. Mrs. Ridgeway joined the Company in 2011 as Tax Compliance Manager and became Tax Director in 2017. She was subsequently promoted to Assistant Controller in 2021.
On October 31, 2022, the Company issued a press release announcing certain of the events described above. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. As of the date of this report, no compensation determinations have been made related to the appointments of Messrs. Paliotti and Skrobacz and Mrs. Ridgeway discussed above.