Axalta Names New CEO
Axalta Coating Systems has appointed Terrence Hahn as CEO, effective Sept. 4. Hahn will also serve on Axalta’s board of directors, expanding the Board’s size from eight to nine directors.
Hahn succeeds Charlie Shaver, who served as Axalta’s chairman and CEO since 2013. Shaver, who has chosen to step down as CEO to pursue a unique professional opportunity, will remain on Axalta’s board and serve as non-executive chairman, working closely with Hahn to ensure a seamless leadership transition, according to the company.
“I am honored to join Axalta at this dynamic time for the Company and the coatings industry,” Hahn said. “Axalta has leading positions, a terrific executive team, strong global presence, and top brands. I am excited about the tremendous opportunity at Axalta to drive organic growth through innovative and value-add offerings that will deepen existing customer relationships and attract new customers, as well as add inorganic growth through strategic acquisitions.”
Hahn most recently served as president and CEO of Honeywell International Inc.’s Home and Building Technologies group.
“On behalf of Axalta’s board, I want to welcome Terrence Hahn to the company,” Shaver said. “We are confident that Terrence is a great choice to lead Axalta going forward. His accomplishments as an executive with over a decade of domestic and international experience across multiple business groups at Honeywell, along with his nearly two decades of previous experience in a variety of leadership roles at Air Products and Chemicals, make him a terrific fit for Axalta.
“Since I became CEO more than five years ago, we have prudently managed Axalta’s business and balance sheet, positioning the Company to capitalize on opportunities as they arise and generate long-term shareholder value. I am very proud of our achievements as well as our excellent prospects for the future,” Shaver continued. “I recently informed the board that I was considering stepping down as CEO and, consistent with our long-term succession planning, the board commenced a search for a potential successor CEO to build on Axalta’s accomplishments and lead the Company forward. We identified Terrence as having a proven track record of success, and the right expertise, experience, and personality for Axalta. I look forward to a successful transition of the CEO role to Terrence and a wonderful partnership with him in my role as chairman.
“Serving as CEO of Axalta has been an honor and a privilege. It was an extremely difficult decision to step away from an executive role at Axalta, but I am confident that Terrence has the right skillset to take Axalta to the next level of growth and development,” Shaver concluded.
