Jonathan Fain is the majority owner and chair of Teknor Apex. [Photo courtesy of Teknor Apex]
Teknor Apex CEO Jonathan Fain is stepping down after leading the company for 51 years, the custom plastics compounder said today.Fain will retain a majority stake and continue serving as board chair of the company that his grandfather Alfred Fain founded as Apex Tire and Rubber Co. in 1924.
Teknor Apex said it has grown sales by more than 650%, expanded beyond North America and completed 11 acquisitions under Fain’s leadership.
Replacing Fain as CEO is Donald Wiseman, the former CEO of Ravenswood, West Virginia-based Star Plastics.
“I have had the privilege and honor to lead a great company for over 50 years, and while I am not retiring, I do want to hand over the day-to-day responsibility to someone who can drive to keep the company strong, growing and build upon our culture,” Fain said in …