Donald Wiseman is the new CEO of custom compounder Teknor Apex, taking over from Jonathan Fain.
Fain led the company for 51 years, growing revenue more than 650 percent, completing 11 acquisitions and expanding the company’s global footprint. He will stay on as chairman of the board.
“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,” says Fain. “I am very confident in our future leadership and plans for supporting our growth, innovation and sustainability for years to come. Don brings a wealth of experience and is an ideal fit into our company and culture.”
Wiseman brings a long history in the plastics industry and deep expertise in masterbatches and compounding. He was most recently CEO of Star Plastics, and has served in leadership roles at PolyOne, Cabot Microelectronics and Americhem.
“I am very excited to join the leadership team of Teknor Apex. What began almost 100 years ago as a small venture in Rhode Island is now among the world’s leading custom compounders. I firmly believe that people and culture are a true competitive advantage for Teknor,” Wiseman said.
Headquartered in Pawtucket, R.I., Teknor Apex was founded by Jonathan Fain’s grandfather, Alfred A. Fain, in 1924 as Apex Tire and Rubber Co. It expanded into vinyl compounds in 1949 and was renamed Teknor Apex in 1968 under the leadership of Norman Fain, Alfred’s son and Jonathan’s father.