 Part VII |
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News Report
Randolph Chemical announced earlier today the selection of Michelle Brown as its new chief executive officer. Willard Strong, Chairman of the Board of Randolph Chemical, said, “We are delighted to have found someone of Michelle’s caliber to lead our organization.”
Michelle Brown brings to the table a reputation as a strict cost cutter. Prior to joining Randolph, Dr. Brown was CEO of Popovich Materials, where she reduced expenses by almost a third in her four-year tenure. Dr. Brown has a bachelor’s degree in chemistry from Wyler College and a Ph.D. in analytical chemistry from Porter University.
Industry analysts remain skeptical that she can turn around the company’s ailing fortunes. After her selection was announced, company stock dropped 1.2 percent in one afternoon.
Randolph Chemical is a global technology-based company that manufactures and distributes plastics, chemicals, and agricultural products. Their search, which took eleven months, was conducted with the aid of Darren Consulting.
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Memorandum from: Michelle Brown
TO: All Randolph Chemical employees
As you have probably heard, I will be assuming responsibility for leading Randolph Chemical effective Monday morning. I want to take a moment to reaffirm the commitment of Randolph Chemical and of myself as its new head to treating every single employee with the fairness and dignity that he or she deserves.
In the months to come I will be initiating steps to sell off those portions of our
business in which we do not have the potential to become industry leaders, leaving us to focus on what we do best. Due to time constraints, we will not be commissioning a new study of all of our holdings. Instead, we will base decisions on current in-house performance figures derived from our ongoing review process.
This is the beginning of a long journey for all of us, one I am proud to say we will make together. I hope to meet as many of you as possible personally, and I urge you to become fully engaged in the process and to contribute your own ideas. |
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