01—Abstract
Summary
Summary of the 8-K filed September 26, 2024. Cited figures are marked; the original filing is the authoritative source.
PPG Industries, Inc. filed this Form 8-K under Item 5.02 to report that Ramaprasad (Ram) Vadlamannati, Senior Vice President, Operations, intends to retire.
He will step down from that role effective October 1, 2024, and will remain with the Company through December 31, 2024. The Company issued a press release on September 24, 2024 announcing the retirement, attached as Exhibit 99. According to the attached press release, Kevin Braun, currently senior vice president of the industrial coatings segment, will become senior vice president, operations, effective October 1, 2024.
Braun will report to Tim Knavish, PPG chairman and CEO, and serve on PPG's operating committee. The operations organization he will lead includes supply chain, operational excellence, manufacturing operations, procurement, and environment, health and safety functions. He will also keep executive oversight accountability for packaging coatings and specialty coatings and materials.
The automotive OEM and industrial coatings businesses will transition to report directly to Knavish. The filing describes this as a leadership transition with no financial figures disclosed.
Vadlamannati joined PPG with the 1999 acquisition of ICI Autocolor and has been with the company for 25 years. The press release describes PPG as having reported net sales of $18.2 billiona in 2023.
02—Key points
Key Highlights
- Ram Vadlamannati, SVP Operations, will step down effective October 1, 2024, and remain with PPG through December 31, 2024.
- Kevin Braun, currently SVP of the industrial coatings segment, will become SVP Operations effective October 1, 2024.
- Braun will lead supply chain, operational excellence, manufacturing operations, procurement, and environment, health and safety functions.
- Braun retains executive oversight of packaging coatings and specialty coatings and materials.
- Automotive OEM and industrial coatings businesses will transition to report directly to CEO Tim Knavish.
- Braun will continue to report to Tim Knavish and serve on PPG's operating committee.
- The filing reports no financial results; the change is a management succession event.
03—Questions
Frequently Asked Questions
Why is Ram Vadlamannati leaving PPG?
The filing states that Vadlamannati has announced his intention to retire from the Company. The press release says he is leaving after 25 years with PPG.
When do the changes take effect?
Vadlamannati steps down as Senior Vice President, Operations, effective October 1, 2024, but remains with the Company through December 31, 2024. Kevin Braun's appointment as Senior Vice President, Operations is also effective October 1, 2024.
Who is replacing Vadlamannati and what is their background?
Kevin Braun will succeed him. Braun began his PPG career in 1991 as a production engineer at the Delaware, Ohio, coatings manufacturing facility and has held roles across industrial coatings, architectural coatings, and raw materials. In 2023 he was named senior vice president, industrial coatings segment.
How does this change reporting lines and responsibilities?
Braun will report to CEO Tim Knavish and sit on the operating committee. The automotive OEM and industrial coatings businesses will report directly to Knavish instead of through the operations organization, and Braun keeps executive oversight of packaging coatings and specialty coatings and materials.
Does the filing disclose any financial impact?
No. The filing and the attached press release do not disclose financial impacts of the leadership change. The press release notes PPG reported net sales of $18.2 billion in 2023 as background.
04—Continue