CONSHOHOCKEN, PA — Quaker Houghton (NYSE: KWR) has announced the recent appointment of Nandita Bakhshi and Lucrèce Foufopoulos-De Ridder as independent directors to its Board of Directors, effective immediately.
Michael F. Barry, Chairman of the Board, expressed enthusiasm about the new appointments. “We are extremely pleased to welcome Nandita and Lucrèce to our Board. They are both skilled global executives with extensive operational and strategic experience across a diverse set of global businesses and industries. We are confident these proven leaders will make a meaningful contribution to our Board and the Company.”
Andy Tometich, Chief Executive Officer and President, echoed Barry’s sentiments. “We are delighted to welcome Nandita and Lucrèce to the Board. They will provide valuable perspectives and insights as we continue to advance our growth strategy and deliver long-term shareholder value.”
Bakhshi currently serves on the boards of BMO Financial Corp., BMO Bank N.A., Beyond Meat, and Grameen America, Inc. Her previous roles include President and CEO of Bank of the West and co-CEO of BNP Paribas USA Inc. She has held executive positions at TD Bank, Washington Mutual, and First Data, holding degrees from Jadavpur University and the University of Calcutta.
Foufopoulos-De Ridder brings 30 years of experience in the specialty chemicals and materials industry. Her most recent role was Executive Vice President at Borealis Group. She has also held senior leadership roles at Eastman Chemical and various positions at Dow Chemical Company, Rohm and Haas, Dow Corning, and Raychem Corporation. She holds two Master of Science degrees from European Universities and the University of Gent.
In addition to these appointments, Quaker Houghton has declared a quarterly cash dividend of $0.485 per share, marking a roughly 7% increase over the prior dividend. The dividend will be payable on October 31, 2024, to shareholders of record as of October 17, 2024.
“This marks our 15th consecutive year of increasing our cash dividend and represents our 48th increase since going public in 1972,” said Tometich. “We remain confident in the long-term fundamentals of our business and our cash generation capabilities and are committed to enhancing shareholder value through our disciplined capital allocation strategy.”
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