Fairmount Santrol and Unimin Corp. announced the future executive leadership team of the combined company, to serve effective upon completion of the previously disclosed proposed merger transaction between Unimin and Fairmount Santrol.
As previously announced, Jenniffer Deckard will serve as president, chief executive officer and a member of the board of directors of the combined company. Additional members of the executive leadership team announced today include:
• Gerald Clancey will serve as executive vice president and chief commercial officer of the combined company, and will lead the commercial operations for the combined company.
• Campbell Jones will serve as executive vice president and chief operating officer of the combined company, and will be responsible for leading the combined company’s operations, engineering and supply chain functions.
• Andrew Eich will serve as executive vice president and chief financial officer of the combined company, and will be responsible for the combined company’s finance and accounting functions.
• Brian Richardson will serve as executive vice president and chief administrative officer of the combined company, and will lead the human resources, information technology, sustainable development and other corporate functions.
“Today marks an important milestone as we work toward combining Unimin and Fairmount Santrol to create a leader in proppant and industrial materials solutions,” said Deckard, president and chief executive officer of Fairmount Santrol. “Fairmount Santrol and Unimin both have exceptional talent across all levels, which is underscored by the very balanced leadership team we have assembled for the combined company post-close. We are confident that the significant strengths of this leadership team, coupled with our compatible cultures, will position the combined company for success both immediately after closing and beyond.”
Michael Biehl, Fairmount Santrol’s current executive vice president and chief financial officer, will continue to serve in his capacity as such through the close of the merger. He has also agreed to stay on as executive vice president of the combined company to assist with the combined company’s integration through the 2018 financial reporting cycle.
Biehl joined Fairmount Santrol in 2016 during a challenging energy cycle, and under his leadership, the company has achieved several significant accomplishments, including refinancing its debt and orchestrating two equity offerings in order to strengthen the company’s capital structure, as well as securing Fairmount Santrol’s Kermit mine with a long-term lease structure.
Deckard continued, “We are very pleased with the transitional and long-term leadership plans put in place thus far. I want to recognize all of our leaders for their continued dedication as we plan for the combined company and to thank those, in particular, who will be continuing in advisory roles following the closing to help ensure a seamless transition and integration. I would like to especially thank Michael Biehl for his dedicated and continued leadership.”
Until the closing of the merger, the respective companies will continue to operate under their current leadership structure and as two separate organizations. The companies intend to publicly announce the remaining individuals, in addition to Jenniffer Deckard, to serve on the board of directors of the combined company in the coming weeks.
The merger, which has been approved by the boards of directors of both companies and received notice from the U.S. Federal Trade Commission that early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, was granted, is expected to close in mid-2018, subject to customary closing conditions, including approval by Fairmount Santrol stockholders.