Ferro Corp. says that James F. Kirsch has stepped down as president and CEO of the company.
Peter T. Thomas, operating vice president of polymer and ceramic engineered materials, has been named interim president and CEO, and the board of directors has engaged a third-party search firm to assist in the search for a permanent successor to Kirsch. William B. Lawrence, a member of Ferro's board of directors, is serving as acting chairman of the board.
‘Through this transition, the board remains committed to the previously announced strategic review of our solar pastes business, and to aggressively pursuing actions to improve profitability and build shareholder value,’ Lawrence says.
Last month, Ferro said it was ‘exploring options’ for its struggling solar pastes business, which was weighing on its financial results.