Momentive Performance Materials Holdings Inc. (along with its
affiliates, "Momentive" or the "Company") today announced the
resignation of Wayne Hewett as President and CEO. Concurrently, Mr.
Hewett has resigned as a Director of Momentive.
"I have enjoyed my time and experiences at Momentive," said Mr.
Hewett. "I am proud to have overseen the business' growth over the
past several years, and the recent successful separation from its
former parent, GE."
Josh Harris, Chairman of Momentive, stated, "We thank Wayne for
his efforts and accomplishments at the Company and wish him well in
future endeavors."
In addition, Momentive is announcing the hiring of Jonathan Rich
as the new President and CEO of Momentive. Mr. Rich is the former
President of Goodyear Tire and Rubber Co.'s North American Tire
Business, which has over $9 billion in annual revenues and over 27,000
employees. During his tenure with Goodyear from 2000 to early 2007,
Mr. Rich developed a strong track record of business growth and
optimization. Prior to 2000, Mr. Rich spent 18 years employed by GE,
having spent the period from 1996 - 2000 working in the GE Silicones
business, a predecessor entity to Momentive.
"I am happy to be joining Momentive at this critical time," said
Mr. Rich. "I believe that my executive experiences at Goodyear,
combined with my intimate knowledge of Momentive's strengths and
opportunities from my time at GE Silicones, make me an ideal candidate
to lead the business towards further growth."
A copy of this statement is posted on our website at
www.momentive.com.
About the Company
Momentive Performance Materials Inc. is a premier specialty
materials company, providing high-technology materials solutions to
the silicones, quartz and ceramics markets. The company is a global
leader with worldwide operations, a robust product portfolio,
industry-leading research and development capabilities, and a long
tradition of service excellence. Momentive Performance Materials Inc.
is owned by an affiliate of Apollo Management, L.P. Additional
information is available at www.momentive.com.