RPM International Inc. has a new senior executive to spearhead the holding company’s restructuring under its 2020 MAP to Growth initiative aimed at improving shareholder returns.
The Medina holding company said it has hired Michael H. Sullivan as vice president of operations and chief restructuring officer. The hiring was effective June 24.
Sullivan will report to RPM Chairman and Chief Executive Officer Frank Sullivan. The two men are not related.
Michael Sullivan will oversee the 2020 MAP to Growth plan and will identify and execute opportunities to improve manufacturing efficiencies, reduce operating costs, streamline procurement, and enhance health and safety measures across all RPM business segments, the company said. RPM International consumer and industrial brands and companies include Rust-Oleum, Testors, DAP, Zinsser, Stonhard, Tremco, Illbruck, Day-Glo and others.
Sullivan helped draft the MAP to Growth plan while he was with consulting firm AlixPartners.
The "MAP to Growth" operating improvement plan was shared at RPM International's investor day in November, months after the company said it was reviewing its business with large activist hedge fund, Elliott Management Corp. RPM expanded its board of directors with two representatives nominated by the fund.
Sullivan also will play a key role in RPM’s annual planning process and oversee its global sourcing teams.
“This is an exciting time to join RPM, and I look forward to becoming more deeply involved in my new role,” said Michael Sullivan. “The company is making great progress with its operating improvement plan, and I intend to leverage my leadership experience and skillset to help RPM achieve its next level of growth and performance.”
He came to RPM International from global consulting firm AlixPartners. He began his career as a consultant with Bain & Co. He also has worked for Temple-Inland Inc. (now International Paper), Exel Logistics plc, Axia (now Accenture Strategy), and Corven Consulting, Ltd. (now Oliver Wyman).
Sullivan has a bachelor’s degree in international relations from Yale University and an MBA from Dartmouth College.