PAWTUCKET – One of the state’s larger plastic compounding manufacturers will have new leadership.
Teknor Apex Co. recently announced that longtime CEO Jonathan D. Fain will step down from that role after leading the company for more than a half century. Teknor Apex says that during Fain’s tenure, the company revenue has grown by more than 650%, expanded beyond North America to a global footprint, and completed eleven acquisitions.
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In 2021, Teknor Apex’s revenue was $1.2 billion and employs more than 500 people locally.
Fain said in a statement that he is “not retiring” – he will remain as the company’s chairman – but said he wants to hand over the daily responsibility to “someone who can drive to keep the company strong, growing and build upon our culture.”
That someone is Donald K. Wiseman, Teknor Apex said. Wiseman, according to the company, has a “robust history” within the plastics industry. Prior to arriving at Teknor Apex, Wiseman served as CEO of West Virginia-based Star Plastics Inc. He also held various leadership positions with other manufacturers around the U.S., including PolyOne Corp., Cabot Microelectronics Corp. and Americhem Inc.
Wiseman said in a statement that he firmly believes that people and culture are “a true competitive advantage for Teknor.”
“I will demonstrate this by removing barriers, collaborating, and rewarding performance to ambitious goals and solve the most demanding business problems, all while emerging a more robust team,” Wiseman said. Fain added that he is “very confident” in Teknor Apex’s future leadership and plans for “supporting our growth, innovation and sustainability for years to come.”
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.
