Leadership Shifts at Advanced Chemical
Warwick, RI, July 25, 2018– Advanced Chemical’s owner and Chief Executive Officer, Gerald Smith III
recently announced shifts in the leadership team as the company continues to grow and expand. Director of Sales David Farnum has been promoted to President and Chief Operating Officer (COO), a new position created to drive performance while increasing daily hands-on leadership.
Third-generation owner Smith will remain as CEO, using his strength as a visionary in setting mission goals and high level strategy while Farnum will have authority and autonomy to direct resources to achieve those goals.
“At this stage of the company’s life it is no longer influenced by a single individual, instead it is driven by a set of principles and values,” Smith said in announcing the COO role at the annual company cookout. “As I carefully considered this change, it became clear that the company already had a proven senior leader in Dave. He is rational, calm and creative when difficult situations arise, practical in his approach to problem-solving, and has demonstrated a unique ability to face tough challenges head on.”
Smith pointed to Farnum’s remarkable success in leading the sales team and revitalizing new business development efforts, resulting in double-digit growth in volume over three consecutive years.
Farnum has said it was his job to clear the runway so the sales team could take off, and he’ll continue that approach as COO. “I’m excited to take on this increased role and help Advanced Chemical move to the next level. The company is growing and reinvesting and I expect to see more of the same, especially in new markets. Business is strong and so is our pipeline. I look forward to being a driving force for innovation and efficiency while fostering a culture of teamwork and accountability.”
Specializing in high-grade thermal reduction and chemical refining of precious metals, Advanced Chemical has added more capacity to their chemical stripping operation and their work in the evaporator shield cleaning market continues to grow at a rapid pace.
As Director of Sales, Farnum instituted dynamic systems to support the sales team, including customer relationship management and expense management solutions, defined and instituted a stronger sales force structure, and created a culture of success and achievement. His sharp insights on market and competitor activity led to significant new business wins.
Previously, the native Rhode Islander held leadership positions at several area companies, including Pease & Curren, Inc. of Warwick, Legrand Data Communications in New London, and Wardwell Braiding Machine Co. in Central Falls. He earned his B.A. from Gettysburg College and continued his education with international studies at Bryant University and Brown University. In addition, he volunteers with the National Grace and Wardwell Foundations.
About Advanced Chemical Company
Founded in 1972, Advanced Chemical Company is a privately held precious metal refiner headquartered in Warwick, RI. Advanced Chemical’s industry leading capabilities in thermal reduction and chemical refining are recognized worldwide. The state of the art environmentally compliant facility handles hazardous and non-hazardous precious metal bearing materials from a wide range of industries. Advanced Chemical is ISO 9001; 2015, 14001; 2015, 18001; 2007, ITAR, and RMI – Conflict Free certified. For more information, visit www.advchem.com.