Solvay SA0NZR
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Electrification & Mobility
Solvay SAThe Lycra Company has appointed Hua Du as chief executive officer, effective 14 September, succeeding interim CEO Dean Williams, who will continue as chief financial officer. The appointment follows the company's emergence from Chapter 11 bankruptcy protection in May, after it reduced its long-term debt by over $1.2bn and secured new investments totalling more than $75m. Headquartered in Wilmington, Delaware, The Lycra Company said the move underpins its "next chapter" with new equity ownership and a "durable capital structure," supporting future investment in innovation, customer partnerships and operations worldwide. Board executive chairman Bruce Rubin welcomed Du's technical expertise, operational leadership and global customer focus, and thanked Williams for his leadership during the transition. Du brings three decades of leadership experience across specialty chemicals and biotechnology, most recently as CEO of Grobest Group, and previously held senior positions at Rhodia, later acquired by Solvay, and led electronic materials businesses in Asia for Rohm and Haas, later acquired by Dow Chemical. The company's portfolio includes LYCRA, LYCRA HyFit, COOLMAX and TACTEL, and in November last year it opened its largest spandex production facility in China.
Solvay SA