MOSCOW (MRC) -- Orbia Advance Corporation S.A.B. de C.V., formerly Mexichem (Mexico City), has announced the appointment of James P. Kelly as Chief Financial Officer (CFO), according to BusinessWire.
Mr. Kelly will begin his employment on August 30, 2021. He will be based out of Orbia’s global headquarters in Boston, Massachusetts.
Mr. Kelly most recently served as Vice President and Corporate Controller leading the reporting, accounting and internal control functions at Cabot Corporation, a US-based specialty chemicals and performance materials company with operations covering 36 manufacturing plants across 20 countries.
As CFO, Mr. Kelly will lead Orbia’s global finance organization and preside over the accounting, treasury, financial planning and analysis, tax and investor relations functions.
Sameer Bharadwaj, CEO of Orbia, said: “Jim brings over 30 years of leadership experience in complex, global organizations to Orbia, along with an extensive track record of building world-class financial organizations, processes and controls to drive growth, operational excellence and competitive positioning in a dynamic market environment.” Mr. Bharadwaj continued, “Jim possesses a keen understanding of global production structures as well as experience in leading companies and finance teams through transformations. With his wide and deep expertise in corporate finance, external reporting, financial planning and analysis, investor relations and audit, I believe Jim has all the acumen to strengthen Orbia’s financial foundation for a future of resilience and value creation as we work to provide solutions that help people around the world live well and thrive.”
Mr. Kelly stated, "I am thrilled to be joining Orbia’s leadership team and leading its global finance organization to contribute to the company’s transformation, executing on strategy, accelerating growth and unlocking value for all shareholders and stakeholders."
As MRC reported earlier, last summer, Orbia Advance Corp. said that in view of the COVID-19 pandemic and its impact on the global economy and capital markets, it had decided to pause its efforts to divest or seek an alternative strategy for its Vestolit vinyls business.
According to MRC's ScanPlast report, Russia's overall production of unmixed PVC totalled 580,500 tonnes in the first seven months of 2021, up by 4% year on year. At the same time, one producer reduced its output.
Orbia is a global leader in specialty products and innovative solutions spanning the precision agriculture, building and infrastructure, fluorinated products and technologies, polymer solutions and data communications verticals, with broad experience in corporate and operational finance. The company has commercial activities in more than 110 countries and operations in over 50, with global headquarters in Mexico City, Boston, Amsterdam and Tel Aviv.