A. Schulman began losing money in its U.S. operations for the first time in 2005 after nearly 85 years of profitable operation. Two years, later, a special committee was formed to look at "strategic alternatives", corporate speak quickly translated by Joseph Gingo. "If you ever read anywhere in a newspaper that your company is considering 'strategic alternatives', you're for sale. That's the strategic alternative they're considering."
That same committee would eventually hire on Gingo as A. Schulman's new CEO effective Jan. 1, 2008, and after a series of decisive moves at the compounder and distributor, A. Schulman was removed from the auction block by December of the same year and has been thriving ever since.
Gingo shared his company's turnaround tale, as well as insights into how U.S. companies can be competitive in the global plastics marketplace, with members of the Akron and Cleveland chapters of Society of Plastics Engineers (SPE) over a packed dinner meeting on Jan. 20 at the Martin University Center on the University of Akron campus....