Chattanooga-based Propex Operating Co. LLC announced in an April 19 press release that its Board of Managers named Michael Gorey president and chief executive officer, effective immediately.
The release described Gorey as “a proven leader with experience as a chief executive, most recently serving as the president of Bridgestone–North American Consumer Tire. With more than 25 years experience in the automotive and building products industries, Gorey has the know-how to drive innovations and strategies that produce growth, profit and market leadership, even in volatile markets.”
Propex is currently owned by a private investment fund managed by Wayzata Investment Partners LLC, a Minneapolis-based private equity firm.
“Propex brands represent some of the most innovative solutions in the geotextile, building products, concrete, and flooring markets. I look forward to working with the team to increase our growth and leadership position for the company worldwide,” said Gorey.
In connection with the Gorey appointment, John Byrne will no longer serve in an operating management capacity, but will continue to serve on the Board of Managers for the company.
The Propex leadership team of Ralph Bruno, executive vice president of sales and marketing; Randy Powell, executive vice president of operations; and Dan Zimmerlee, executive vice president and chief financial officer, report directly to Gorey.
Propex’s footprint covers three continents, with 10 facilities totaling more than 5 million square feet of manufacturing and includes more than 2,000 employees.