Ashland Realigns Leadership of Water Technologies, Specialty Ingredients Groups
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John E. Panichella, Ashland SVP, has been named president of Ashland Water Technologies, the $1.7 billion unit serving customers in the pulp and paper and industrial water markets. For the past two years, he had served as president of Ashland Specialty Ingredients. In his new role, Panichella will be responsible for driving sustained growth and financial improvement within Water Technologies, which has benefitted in the past year from a new strategic plan and a sharpened focus on customers. He oversaw that improvement as group operating officer, with Water Technologies' leadership team reporting in to him.
In addition, the company said Luis Fernandez-Moreno has been appointed SVP of Ashland and president of Ashland Specialty Ingredients, a $2.8 billion global group in water-soluble and film-forming polymers. Since joining Ashland last November as president of Water Technologies, Fernandez-Moreno has been instrumental in revitalizing that commercial unit. Under his leadership, Water Technologies has simplified the business, focused on key growth opportunities, and delivered better service and value for customers. In his new role, Fernandez-Moreno will report to James J. O'Brien, Ashland chairman and CEO.
This past July, Ashland announced that it would evaluate strategic options for Water Technologies, including the possible sale of the commercial unit. The company is continuing that review process, with the assistance of Citi.
