Chairman John Jones Lauds Pair for Great Example of Portfolio Management
LEHIGH VALLEY, Pa. (March 7, 2002) — At a ceremony last evening held at Lehigh Country Club, Air Products and Chemicals, Inc. (NYSE:APD) presented the 2001 Chairman's Award for Excellence, the highest level of Air Products' employee recognition programs, to John B. Dickenson and Thomas V. Pillitteri for engineering the dramatic turnaround of a business segment that is now one of Air Products' best performers.
John P. Jones, III, Air Products' Chairman and Chief Executive Officer, had high praise for the leadership and teamwork displayed by the award winners in making the Specialty Additives product line one of Air Products' top value creators. "These two individuals represented the perfect combination of product and customer knowledge, business acumen, passion and drive," Jones said. "John focused on the technology and the customer's needs, and Tom's business development instincts and leadership created the Specialty Additives business results we have today."
Dickenson and Pillitteri began laying the groundwork for the turnaround in 1988. Up until that time Air Products' Specialty Additives business in Performance Chemicals, which was acquired two decades earlier, remained small and had not met the company's growth objectives. In a market where demand for water-based coatings was increasing, the growth of Air Products' Surfynol® surfactant product line was slowing, and the production of those chemicals was expensive and unreliable.
Jones told the assembled audience that Dickenson utilized his understanding of interfacial and surfactant chemistry to recognize the value of Surfynol products in strategic, growing markets in areas such as coatings, inks and adhesives, and that he also advanced the technology for application development. He said Pillitteri used his commercial management skills, assembled a strong business team and developed a focused business strategy, as well as taking the lead in product, asset, and project management. "These individuals came together and decided to change the business. It is a great example of portfolio management," Jones said.
Dickenson and Pillitteri led a team focused on bringing more value to the customer, the business model was changed, existing products gained entrance to new markets, and plant production increased driven by a staged capital investment program that balanced near and long term profitability goals. In five years, Air Products' Specialty Additives business became one of the recognized market leaders for surfactant chemistry, especially in coatings and inks. Customers began to seek Air Products' technical services capabilities for assistance and problem solving solutions, becoming a value to customers and a growth vehicle for Air Products. "For a success story like this, you have to have people who want to go and take on a business that needs help," Jones said. "John and Tom led a team that created a business that today is one of Air Products' top value creators. It is something for which they should be very proud."
The Chairman's Award for Excellence was established in 1988 to honor significant contributions of employees towards the realization of corporate goals. Winners are selected by the chairman based on nominations proposed by a committee comprised of senior company officials. Dickenson and Pillitteri split the $70,000 cash/company stock award, and were both presented with a sculpture emblematic of a statue donated by former Chairman Dexter Baker, which symbolizes the technology for air separation.
Dickenson joined Air Products in 1984 as a chemist in Surfynol applications development and technical service. In his 18-year Air Products career, he has also been group leader in Specialty Additives, headed Epoxy and Specialty Additives technical services, spent time in Utrecht, the Netherlands integrating an epoxy acquisition, and has managed a resin development team in Performance Chemicals. He is currently a manager of business development in the Corporate Development Office. Dickenson has a Ph.D. in organic chemistry from Michigan State University, an MBA from Lehigh University, and a bachelor's degree in chemistry from Lebanon Valley College. He lives in North Wales, Pa. with his wife Christine and their two sons.
Pillitteri joined Air Products' Career Development Program (CDP) in June 1974. After three CDP assignments in Gases and Chemicals, he accepted a position in what is now the Polyurethane Intermediate business area. Over his 28 years, he held positions including: sales of industrial chemicals; work in the Amines product area; business manager of Specialty Additives; global business manager of Epoxy Additives; and was a member of the leadership team to develop the Electronics Chemicals strategy. He is currently the business development director for Performance Chemicals. Pillitteri has a bachelor's and master's degree in chemical engineering from Manhattan College. He and his wife, Kathy, live in Allentown, Pa. and have two daughters and a son.
Air Products and Chemicals, Inc. (www.airproducts.com) is the world's only combined gases and chemicals company. Founded more than 60 years ago, the business has annual revenues of $5.7 billion and operations in 30 countries. Air Products is a market leader in the global electronics and chemical processing industries, and a long-standing innovator in many industrial markets, including coatings, adhesives and polyurethanes. The company distinguishes itself through its 18,000 employees around the world, who build lasting relationships with their customers and communities based on understanding, integrity and passion. |
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