THOMAS TWP, MI – Mark Bassett is the new chairman and CEO of Hemlock Semiconductor Corp. following the restructuring of Dow and Corning Inc. Wednesday June 1.
Bassett was global vice president of Dow Chemical Co.'s polyurethanes business, the company said in a statement.
He will replace Denise Beachy, who became commercial director for Europe, Middle East, Africa and India for Dow Elastomers and Electrical and Telecommunications business.
"Mark's strong business acumen combined with his deep chemical engineering expertise make him a great fit to lead Hemlock Semiconductor into a new era," Howard Ungerleider, vice chairman and chief financial officer of Dow Chemical and chairman of Dow Corning, said in a statement. "Mark and his team are dedicated to further developing Hemlock Semiconductor's legacy as one of the world's premier providers of high-purity polysilicon to the electronics and solar industries."
On Wednesday, June 1, Dow and Corning Inc. announced the successful completion of the transaction to restructure the ownership of Dow Corning, which formerly was majority owner of Hemlock Semiconductor. Dow and Dow Corning will maintain their equal proportional equity interests in Hemlock Semiconductor, and Shin-Etsu Handotai will maintain its minority share.
Bassett was not available for interviews Wednesday, the company said in a statement.
"The opportunity to lead one of the pioneers of the polysilicon industry is an exciting one," Bassett said in a statement. "Hemlock Semiconductor's products are key enablers of many of the electronic and solar technologies so important to our world today. I'm looking forward to working with the talented team at Hemlock Semiconductor to enhance our capability of providing high-quality polysilicon to our customers as the need for our products continues to expand."
Bassett was appointed to his previous role in 2012 and was responsible for global business strategy and financial performance for a business that produces polyurethane products such as foams for furniture, automobile, industrial and energy efficiency applications, the company said in a statement.
Beginning Wednesday, June 1, the Dow Chemical Co. assumed full control of its longtime subsidiary as Corning Inc. leaves the jointly-owned company.