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By PBN Staff
By PBN Staff
NORTH KINGSTOWN – Polypropylene films manufacturer Toray Plastics (America) Inc. announced Tuesday that Michael Brandmeier has succeeded Richard Schloesser as president and CEO of the company following Schloesser’s retirement.
Schloesser, who joined the company in 1990 as sales and marketing manager of the Torayfan Division, rose through the ranks to the positions of vice president of sales and marketing, senior vice president of sales and marketing, executive vice president, and president and chief operating officer.
In 2008, he became the first American to serve as Toray’s president and CEO, after former Chairman and CEO Kojiro Maeda returned to Toray’s Japanese parent company, Toray Industries Inc.
During his tenure, Schloesser led the construction of a 3-acre solar farm on Toray’s North Kingstown campus, began planning a new $23 million cogeneration facility, and strengthened Toray’s relationship with the University of Rhode Island through corporate gifts, scholarships and internships, and most recently through a $2 million pledge toward the university’s proposed new College of Engineering facility.
“I have been extremely fortunate to be able to serve among many extraordinary people. I’m very proud of what we accomplished together,” said Schloesser in a statement. “As I leave Toray I know it is in excellent hands with Mike. He’s done an outstanding job during his 19-year tenure with Toray and I am confident that he is the right person to lead Toray into the next stage of the company’s journey to even greater value.”
Brandmeier worked side by side with Schloesser at Toray for nearly two decades, most recently as the executive vice president and chief operating officer responsible for the company’s three divisions – Torayfan, Lumirror and Toraypef. Before joining Toray in 1995 - where he has served in various management and executive roles - Brandmeier launched his 34-year career in the plastic-film industry at Mobil Chemical Co.
Brandmeier will continue to be a member of the Toray board of directors following his promotion to president and CEO. As he assumes responsibility for guiding the company into the future, Brandmeier acknowledged Schloesser’s accomplishments.
“We are deeply grateful to Rick for his many years of superb, visionary and wholehearted leadership,” said Brandmeier. “He inspired excellence and dedication among employees and in working relationships that went far beyond the borders of Toray Plastics. Rick leaves us with a solid foundation of management tools and a rich legacy of commitment to growth, sustainability and profitability.”