Covia announced that Andrew Eich has been promoted to president and chief executive officer, effective Jan. 1, 2022. In addition, Eich will also join the board of managers of Covia.
Eich has served as president of Covia since May 3, and previously served as executive vice president and chief financial officer from June 1, 2018. Eich has been with Covia and its predecessor companies since 2012, with prior roles including senior vice president and chief commercial officer and chief financial officer.
Prior to Covia, Eich was a private equity executive at Aetos Capital and he began his career at KPMG LLP. He received a bachelor’s in economics management from Ohio Wesleyan University, is a CPA (inactive) and CFA charterholder.
In addition to his role at Covia, Eich serves on the board of directors for Boys Hope Girls Hope of northeastern Ohio.
Commenting on the transition to CEO, Eich stated, “It is a great honor to be taking on the role of CEO at Covia. The company’s leading assets, blue-chip customer base and importantly, the outstanding Covia Team, position us well for a bright future as we execute on our growth strategy.”
It was also announced that Shawn Williams, chairman of the board and acting chief executive officer, will continue in this role through Dec. 31, after which he will become executive chairman of the board, ensuring an effective transition of leadership.
Commenting on the promotion of Eich, Williams stated, “I am pleased to have Andrew transition to president and chief executive officer, leading our Covia team. The board unanimously selected Andrew based on his industry, commercial and financial expertise as well as his strong and determined leadership. It is an exciting time for our company.”
In addition, Covia announced that its Industrial Segment will implement a price increase across all product lines, effective Jan.1, 2022, of up to 15% depending on the product and grade. This action is necessary to help offset continued and significant inflationary pressures across several categories including energy, steel, packaging, transportation, labor, resins and additives, and will allow Covia to maintain its service and value to its industrial customers, the company stated.