UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| 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.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 | Press release issued by the Company on October 31, 2022. | |
| 104 | Cover Page Interactive Data File (Embedded within the inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 31, 2022
| NEWMARKET CORPORATION | ||
| By: | /s/ Brian D. Paliotti | |
| Brian D. Paliotti | ||
| Vice President and Chief Financial Officer | ||
Exhibit 99.1
NEWMARKET ANNOUNCES THE RETIREMENT OF THE PRESIDENT OF AFTON CHEMICAL CORPORATION AND THE APPOINTMENT OF NEW PRESIDENT
Richmond, VA, October 31, 2022 – 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.
Teddy Gottwald, President & CEO of NewMarket, thanked Mrs. Harm for her many years of dedicated service: “Gina excelled in every role and, perhaps most notably, built strong and capable teams in every instance. I am grateful to Gina for all her good work, leading Afton through some very challenging times. During her tenure as President, we have seen an incredible string of unusual events: fires and freezes at our suppliers’ plants which caused unprecedented supply disruption; the worldwide Covid pandemic; ongoing supply chain challenges from the pandemic; and more recently, inflation, war and sanctions. Throughout this time, she has provided calm, steady leadership that has allowed Afton to prosper and grow.”
Mr. Gottwald continued, “the entire NewMarket, Afton and Ethyl family are fortunate to have had Gina’s dedicated leadership for these many years.”
The Company also announced that Brian D. Paliotti will succeed Gina Harm as President of Afton, effective January 1, 2023. Mr. Paliotti has worked for NewMarket since 2008 serving in a variety of finance roles, most recently as Vice President and Chief Financial Officer.
Mr. Gottwald commented, “I am extremely excited about this opportunity for Brian. Throughout his time with our Company, Brian has focused on building teams, developing people, and pursuing cost-savings initiatives. He has extensive market knowledge, a strong financial background, and an energetic, results-oriented leadership style that will lead us into the future. Brian will remain focused on executing our short and long term plans in pursuit of our objectives, and we can look forward to our continued success under his direction.”
NewMarket Corporation, through its subsidiaries Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. From custom-formulated additive packages to market-general additives, the NewMarket family of companies provides the world with the technology to make engines run smoother, machines last longer, and fuels burn cleaner.
FOR INVESTOR INFORMATION CONTACT:
Brian D. Paliotti
Investor Relations
Phone: 804.788.5555
Fax: 804.788.5688
Email: investorrelations@newmarket.com
Document and Entity Information |
Oct. 27, 2022 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | NEWMARKET CORP |
| Amendment Flag | false |
| Entity Central Index Key | 0001282637 |
| Document Type | 8-K |
| Document Period End Date | Oct. 27, 2022 |
| Entity Incorporation State Country Code | VA |
| Entity File Number | 1-32190 |
| Entity Tax Identification Number | 20-0812170 |
| Entity Address, Address Line One | 330 South Fourth Street |
| Entity Address, City or Town | Richmond |
| Entity Address, State or Province | VA |
| Entity Address, Postal Zip Code | 23219 |
| City Area Code | (804) |
| Local Phone Number | 788-5000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, without par value |
| Trading Symbol | NEU |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |