Share this on

McCracken steps down at Invista

By Susan M. Andrews -- Furniture Today, February 1, 2004

WILMINGTON, Del. — Steve McCracken has stepped down as president of Invista, the fiber and intermediates supplier that DuPont is selling to Koch Inds.

Until the sale is completed, he will remain on Invista's board and provide support during the transition. After that, McCracken said, he will pursue other interests.

In the meantime, Gary Pfeiffer, senior vice president and chief financial officer of DuPont, will be responsible for operating Invista.

Koch had announced in November that McCracken would remain president and become chief operating officer of Invista after the sale. At the same time, it announced that Jeff Walker, a 19-year Koch veteran, would be chairman of Invista's board and CEO after the sale.

Four other Invista executives — Dave Trerotola, Alan Wolk, Kenneth Wall and William Ghitis — have accepted key roles in the new Invista organization, pending the successful completion of the sale. All will report to Walker.

Trerotola, currently heading the Home and Industrial Textiles business for Invista, will lead Invista Performance Fibers. He will be responsible for managing market segments including airbags, sewing thread, military products, non-woven/personal care products, and technical and industrial products.

Wolk will continue to lead Invista Interiors. Based in Atlanta, Wolk will be responsible for flooring and home furnishings, which includes the furniture and sleep products segments.

Wall will continue to lead Invista Intermediates. He will be based in Wichita, Kan., and will oversee nylon and polyester intermediates production, along with the nylon C12, adipic, diamine, and Terathane specialties.

Ghitis will continue to lead Invista Apparel, with responsibility for Lycra, Elaspan and T400, and will assume profit-and-loss responsibility for polyester and nylon specialty fibers. He will be based in the Delaware, Pennsylvania, New Jersey tri-state area.

Invista had 2002 revenues of $6.3 billion.

Share this on

Koch to buy fiber source Invista from DuPont for $4.4B

Nov 30, 2003

Also by this author

Also by Susan Andrews

Featured Company

FurnitureCore.com

FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more

Most Recent Resources

Atlanta International Gift & Home Furnishings Market

Here is a selection of products shown at this month's International Gift & Home Furnishings Market here.

Networking at the 13th annual F/T Leadership Conference

NAPLES, Fla. — Industry executives and guests took the opportunity to network and play golf during down time at Furniture/Today's 13th annual Leadership Conference here this month.