PolyOne head Stephen Newlin to retire

After eight years, Stephen Newlin is stepping down as head of material supplier PolyOne Corporation, to be replaced by Robert M. Patterson.

Effective May 15, 2014, the 61-year-old Newlin will retire as president and CEO of Avon Lake, Ohio-based PolyOne, but will remain executive chairman of the PolyOne Board of Directors.  

Patterson, 41, currently serves as executive vice president and chief operating officer, where he is responsible for developing and executing the annual operating plans and strategic plans to drive growth in revenue, gross margin and operating income.

“I am privileged that the Board has selected me as the next CEO of this great company,” Patterson said in a statement. “It is a tremendous honor to continue the remarkable transformation that Steve Newlin envisioned and has successfully executed since 2006.  He has demonstrated clear and consistent leadership, which I will build upon in PolyOne’s pursuit of continued growth as a specialty company.”