Lycra enters ‘next chapter’ with new CEO
The Lycra Company has named Hua Du as CEO as it "enters its next chapter" following the successful completion of its financial restructuring.
Du succeeds Dean Williams, who served as interim chief executive officer and will continue in his role as chief financial officer.
Du brings 30 years of leadership experience in the specialty chemical and biotech-based industries, most recently serving as CEO of Grobest Group, a private equity-backed animal nutrition business.
Earlier in his career, he held senior leadership roles at Rhodia (later acquired by Solvay) and managed electronic materials businesses across Asia for Rohm and Haas, later acquired by Dow Chemical.
Lycra chairman Bruce Rubin said: “With his extensive technical expertise, operational leadership and global customer focus, we are confident that Hua has the experience and vision to help shape a successful future for the business.”
In March, Lycra Company won bankruptcy protection. It said filing for Chapter 11 would enable it to shed around $1.2 billion of debt and emerge from bankruptcy protection within 45 days.
