RPM Inc. Names New VP-Controller, Announces Other Management Moves
MEDINA, OH — RPM Inc., taking steps to rebound from disappointing financial results in the past year, has named Robert L. Matejka vice president and controller, with responsibility for accounting, foreign-operations administration, taxes, and internal-audit functions. Matejka has held accounting and finance positions with Rockwell International Corp., Reliance Electric Co., and Ernst & Young.
RPM also said David Reif, formerly CFO, has been named president at RPM’s StonCor business unit. The company has not named a new CFO to replace Reif.
RPM also announced the promotions of Glenn R. Hasman to vice president of Finance and Communications, Kathie M. Rogers to manager of Investor Relations, and Janeen Buzash to director of Benefits. Carrie Paskert joined the company as Risk Control manager. Hasman was formerly vice president and controller, and Rogers retains her former position as assistant to the vice chairman in addition to the Investor Relations duties.
RPM recently reported that for its fiscal year ended May 31, net income declined 56%, including restructuring and other charges, although sales rose 14%. The results marked the end of the company’s long-running string of consecutive annual earnings increases, which reached 52 years in 1999. The results were affected by costs related to plant closings and discontinued inventories, and by “significant earnings shortfalls” at the StonCor, Testor and Bondo businesses, the company said. Chairman and CEO Thomas C. Sullivan said the company does not expect restructuring costs to affect earnings for the current fiscal year, which began June 1. He said the company anticipates double-digit earnings increases for the year.