Koppers Holdings (KOP) CFO to Retire

August 6, 2021 8:08 AM EDT

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Koppers Holdings Inc. (NYSE: KOP), an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds, today announced that Chief Financial Officer Michael J. Zugay has informed the Board of Directors of his decision to retire effective December 31, 2021. The Board has appointed Jimmi Sue Smith, the company's current Vice President, Finance and Treasurer, to assume the role of Chief Financial Officer effective January 1, 2022. Ms. Smith will report to Leroy Ball, Koppers President and Chief Executive Officer.

Commenting on Mr. Zugay's retirement, "Mike was the first hire I made as I was transitioning from CFO to the CEO role at Koppers, and he turned out to be everything I hoped he would be. His previous experience leading finance organizations in the public company space brought valuable expertise to the senior leadership team at that time which enabled us to focus our efforts on creating a strategy to rebuild Koppers into a unique portfolio of products and services serving essential infrastructure markets. I want to extend my gratitude to Mike for his exceptional leadership and his many contributions to support the strategy that has so successfully transformed our company. It has been a pleasure to work alongside him day in and day out," said Ball. "On behalf of the Board of Directors and all Koppers employees, I wish Mike all the best in his well-deserved retirement."

Mr. Zugay has served as Chief Financial Officer of Koppers since 2014, leading all aspects of the company's global finance and accounting, budgeting and forecasting, tax, investor relations and communications functions, as well as advising on key strategic growth initiatives.

"It has been an honor to lead such a talented team at Koppers, particularly during the past 18 months in which my colleagues displayed tremendous resilience as we navigated the unprecedented challenges arising from the COVID-19 pandemic. I am proud of the significant progress we have made to drive our growth strategy over the past seven years," said Zugay. "I believe Koppers is operating from a position of strength, with a long runway of profitable growth ahead. I am confident that Jimmi Sue's experience and leadership capabilities will help Koppers to continue on the path of improved performance and disciplined execution of our company's strategy. I look forward to working with Jimmi Sue and the rest of the team to ensure a smooth transition."

"It gives me great confidence to know that Jimmi Sue, a seasoned financial executive, is stepping into this role," said Ball. "She has an excellent understanding of our business as well as our industry, and in a relatively short period of time she has gained the respect of her colleagues across the organization. I look forward to working closely with Jimmi Sue in her new role to create value for all of our stakeholders."

"It is an exciting time at Koppers, and I am very enthusiastic for the opportunity to contribute to the company's future success," said Smith. "I am proud to lead this finance organization, which will continue to find ways to execute on future growth opportunities."

Since February 2020, Ms. Smith has served as Koppers Vice President, Finance and Treasurer, overseeing the global treasury management function. She plays an integral role in the company's capital markets financing, merger and acquisition activities, and debt agreements. In addition, she has responsibility for building and strengthening relationships with a syndication of commercial banks as well as credit rating agencies.

Ms. Smith brings extensive financial leadership experience. She started her career at a Big Four accounting firm and subsequently served in various financial and accounting management roles that include companies in the manufacturing and natural gas sectors. Ms. Smith received her bachelor's degree in Business Administration with an Accounting concentration from West Virginia University and a Juris Doctor degree from the Duquesne University School of Law.



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