ATLANTA, November 14, 2013 (BUSINESS WIRE) - Zep Inc. (NYSE: ZEP), a leading consumable chemical packaged goods company that manufactures a wide variety of high-performance maintenance and cleaning chemicals today announced that it is consolidating its North American commercial organizations under the leadership of Steve Nichols and Joe Seladi, each of whom have over 35 years leading businesses in our industry, to align product and market development organizations.
Steve Nichols will assume the title of Group President and have responsibility for our Industrial & Institutional ('I&I') businesses including: our North American Sales & Service, Zep Vehicle Care, Zep Distribution, Zep Industrial, Zep Energy, Zep Food, Zep Government and Export divisions, including sales and marketing to customers who purchase directly, through distribution, or as a strategic account customer. Nichols is a veteran of our industry with a variety of leadership roles including two international assignments.
Joe Seladi will also assume the title of Group President and have responsibility for our Zep Automotive and Zep Retail businesses. Seladi joined Zep Inc. in the 2010 acquisition of Amrep, Inc. where he previously served as the Chief Executive Officer. Seladi has over forty years with manufacturing organizations, having led organizations in our industry for the past twenty years.
"These changes are consistent with our goal of driving profitable growth and will enhance our customer experience, streamline our cost structure and create a culture of continuous improvement," said John K. Morgan, Chairman, President and Chief Executive Officer of Zep Inc. "Steve's experience leading multi- channel organizations will be a valuable asset to our North American Sales & Service and Distribution selling organizations and allow Joe to focus his attention on Zep Inc.'s Retail businesses and an enterprise-wide complexity reduction initiative," continued Morgan.
In conjunction with this alignment, Darrin Baum has been promoted to Vice President, General Manager Zep Vehicle Care. Darrin is a veteran of the car wash industry having worked in and managed car washes before joining the Vehicle Care operation in 1997. In the past sixteen years with the company, Darrin has served as Territory Manager, District Manager, Western VP of Sales and most recently as the Sr. VP of Sales and Service.
"Darrin's extensive knowledge of our industry and his passion for our team together with his business acumen and dynamic leadership skills uniquely qualify him to lead Vehicle Care into the future," said Steve Nichols, Group President of Zep Inc.
This announcement will also mark the move from Amrep to Zep Inc. as a go-to-market identity, with specialized brands under the Zep Inc. umbrella. Our Zep Automotive business will focus on providing maintenance solutions to the automotive industry while the Zep Industrial business develops solutions for industrial maintenance and repair operations. Additionally, the Zep Distribution business will focus on sales of Zep Inc. products through distributors and re-distributors while the Zep Retail business continues to address the needs of regional and national retail customers.
About Zep Inc.
Zep Inc., with fiscal year 2013 net sales of approximately $690 million, is a leading consumable chemical packaged goods company selling a wide variety of high-performance chemicals that help professionals and prosumers clean, maintain and protect their assets. We are focused on the attractive industry dynamics of the transportation market and the industrial maintenance and repair operation ("MRO") market, which together now comprise approximately 60% of our revenue with the balance derived from sales into the facilities maintenance vertical. We market these products and services under well recognized and established brand names, such as Zep®, Zep Commercial®, Zep Professional®, Enforcer®, National Chemical™, Selig™, Misty®, Next Dimension™, Petro®, i-Chem®, TimeMist®, TimeWick™, MicrobeMax®, Country Vet®, Konk®, Original Bike Spirits®, Blue Coral®, Black Magic®, Rain-X®, Niagara National™, FC Forward Chemicals®, Rexodan®, Mykal™, and a number of private label brands. Founded in 1937, some of Zep Inc.'s brands have been in existence since 1896. Zep Inc. is headquartered in Atlanta, Georgia. Visit our website at www.zepinc.com.
Don De Laria
VP Investor Relations & Communications