Myers Industries’ CFO resigns

Myers Industries has appointed an interim chief financial officer after separating from its most recent CFO.

The Akron-based polymer products company announced Friday, Sept. 18, it has appointed Dan Hoehn as its interim CFO, effective immediately.

The company said the move comes “following the mutual agreement of the company and Kevin Brackman, former executive vice president and chief financial officer, to separate effective Sept. 18, 2020.”

Myers CEO Mike McGaugh thanked Brackman for his service in announcing the change, but the company did not say why Brackman and Myers were parting ways.

Brackman had been CFO for nearly two years, according to his LinkedIn page. He’d been with the company since 2016, when he worked for Myers as interim CFO, his page states.

Hoehn has served as Myers’ vice president and corporate controller since August 2019. Prior to that he was vice president, controller and chief accounting officer for Akron’s Babcock & Wilcox Enterprises, according to Myers’ announcement.

“Dan brings significant professional financial and accounting experience, and we’re pleased to have him lead our finance team at this important time of executive transition and ongoing evolution of our company,” said McGaugh in announcing his appointment. “I am confident that Dan will continue to provide valuable insight as part of our leadership team as we work to identify and appoint a permanent CFO.”

Myers said it will “engage a nationally recognized firm to undertake a comprehensive search to identify a permanent chief financial officer.”

McGaugh was hired as CEO after a national search concluded early this year. He replaced Andrean Horton, who had been interim CEO after Dave Banyard stepped down in October 2019. Banyard left for other opportunities and became president of Masterbrand Cabinets in Indiana, according to his LinkedIn page.

Myers makes products for the international industrial, agricultural, automotive, commercial and consumer markets. The company also says it is the largest distributor of tools, equipment and supplies for the tire, wheel and under-vehicle service industry in the U.S.

The company posted sales of $515.7 million in 2019, along with $37.3 million in operating income.

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