PPG’s Board of Directors has unanimously elected PPG President and Chief Executive Officer (CEO), Tim Knavish, 58, as Chair of the company’s Board of Directors and CEO, effective Oct. 1, 2023. Knavish succeeds Michael McGarry, 65, who served as Chairman and CEO from 2016 to 2022 and is retiring as Executive Chairman, also effective Oct. 1, 2023.

“On behalf of the PPG Board of Directors, we want to congratulate Tim and recognize the significant contributions Michael has made in leading PPG through some of the most challenging periods in its 140-year history,” said Hugh Grant. “Michael’s leadership has made a significant impact on expanding the company’s portfolio and reach in key growth markets, strengthened PPG’s position, and set the company on a solid path for future growth and success. We wish him the very best. As we look ahead, the board fully supports Tim and the entire PPG team as they work to achieve future growth and increased value for our shareholders.

“After a thoughtful and deliberative process, the Board of Directors agreed that appointing Tim as Chair and CEO enhances the alignment between PPG management and the Board in implementing PPG’s enterprise growth strategy. Tim has an intimate knowledge of the business, can quickly identify and implement strategic priorities, and has demonstrated the ability to serve as an effective bridge between the Board and management,” Grant added.

PPG also announced that Hugh Grant, 65, PPG Independent Lead Director, has informed the Board of Directors of his decision to end his tenure, effective Oct. 1, and retire from the Board at the end of the year. The Board has unanimously appointed PPG Board member, Michael W. Lamach, 60, to succeed Grant as the new PPG Independent Lead Director and Chair of the Nominating and Governance Committee, effective Oct. 1. 

Lamach joined the PPG Board in 2015, and has served on each of PPG’s Board committees. He was Executive Chair of Trane Technologies plc, a global leader in climate control and climate-focused innovations for buildings, homes and transportation, from July 2021 until his retirement in December 2021. 

Of Grant’s leadership, Michael McGarry stated, "Hugh has brought considerable expertise and talents to the Board, including his exceptional leadership, his insightful approach to complex issues and his extensive knowledge of corporate affairs and governance, all of which provided a dimension to the Board’s deliberations that will be greatly missed. We thank Hugh for his 18 years of service and his valued guidance to three PPG CEOs. Hugh has certainly fulfilled his commitment to the company and shareholders, including completing the most recent CEO transition this year. Throughout his time on the board, Hugh has been strongly committed to and supportive of our company’s growth and strategic direction, guiding the Board with a strong focus on delivering value to our shareholders. His acumen in illuminating the company’s strategy and accomplishments for our shareholders has been a significant asset to the company and its leadership.”

McGarry added, "The Board agreed that Mike is ideally suited to serve as the new PPG Independent Lead Director given his many contributions since joining the Board, his sound perspective, dedication to PPG, and proven experience as chairman and CEO of Trane Technologies and role as a Director at both Trane and Ingersoll-Rand. We wish Mike all the best in this important role and strongly believe that his and Tim Knavish’s leadership as Chairman and CEO will help PPG grow, deliver and assure that PPG’s best days are still ahead."