John Floren succeeds Bruce Aitken in the role of President and Chief Executive Officer, effective January 1, 2013.
Petrochemicals giant Methanex Corp. (TSX: T.MX, Stock Forum) (NASDAQ: MEOH, Stock Forum) said Friday John Floren has been named to the position of President and Chief Executive Officer.
Floren, who is currently the company’s senior vice-president, Global Marketing & Logistics, will step into the role starting on January 1, 2013, Methanex said in a press release.
He succeeds Bruce Aitken, who is retiring after 21 years with Methanex, but will remain a director.
“It has been a true honour leading Methanex for the past 8 years. I will miss the employees and day-to-day running of the company, which has been an important part of my life for so long, Aitken said. “John Floren has great leadership abilities and management expertise and I believe he will be an exceptional CEO.’’
Trading at $27.38 on Friday, Methanex has a market cap of $2.57 billion, based on 93.9 million shares outstanding. The 52-week range is $35 and $20.64.