Hallstar to Split into Two Separate Companies
With effect from Oct. 1, US-based specialty chemical company Hallstar is to split into two separate companies that will trade as Hallstar Industrial Solutions and Hallstar Beauty & Personal Care.
Hallstar’s chairman, president and CEO John Paro said the restructuring is a direct response to market needs. “We recognize that the landscapes of Industrial Solutions and Beauty & Personal Care differ significantly in terms of client behavior and product innovation. Setting ourselves up as two companies will allow our people to continue to do what they do best and focus fully on growth in their specific industry.”
Paro will remain chairman and CEO of Hallstar, but will relinquish his role as president. Hallstar Industrial Solutions and Hallstar Beauty & Personal care will each have their own president, who will be responsible for the respective company’s operation and financial results.
Hallstar’s vice president, Europe, Middle East & Africa, Asia-Pacific and global innovation, Robert Hu, will become president and chief technology officer of Hallstar Beauty & Personal Care. A search is underway to recruit a president for Hallstar Industrial Solutions.