WILTON, CONN., June 8 /CNW/ - 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
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
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.
For further information:
For further information: Momentive Performance Materials Holdings Inc.
Diana Sousa, +1-203-761-1994 firstname.lastname@example.org