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What you need to know for 01/21/2017

CEO of SI Group plans retirement next year

CEO of SI Group plans retirement next year

Stephen Large has announced his plan to retire as president and CEO of SI Group, Inc. at the end of

Stephen Large has announced his plan to retire as president and CEO of SI Group, Inc. at the end of 2013.

“But he’s going to remain a board member to provide continuity,” said Bill Scheffer, manager of global brand and communications at SI Group North America.

Large planned his retirement for when his contract expires in December 2013. He declined to be interviewed Thursday, and instead asked Scheffer to answer all questions related to the move. Scheffer would not comment on whether the company considered extending Large’s contract.

“Contracts can be extended, but this one was not extended,” he said. “Steve’s tenure as CEO has been very successful here. So it obviously wasn’t a performance issue or anything. His performance was excellent.”

SI Group’s board of directors will search internally and externally for a new CEO. There’s no time line, as yet, on how that search will progress.

Large, who is now in his mid-50s and lives in Niskayuna, first joined SI Group in June 2007 as president and chief operating officer. By January of 2008, he was promoted to CEO, succeeding Wally Graham, who remained chairman of the board.

The Niskayuna-headquartered company manufactures chemical intermediates that are used by the automotive, plastics, detergent, coatings and electronics industries. The family-owned company was founded in 1906 and today operates 20 facilities in 13 countries around the world.

Before Large joined SI Group, he spent 15 years at industrial adhesive manufacturer H.B. Fuller under various global assignments.

Large is the seventh president at SI Group, which previously was named Schenectady International. Shortly after he came on board, he announced a reorganization plan that combined two divisions and restructured the responsibility of personnel, eliminating 15 jobs locally and 21 jobs overall.

“For over a century, Schenectady has been our home, and that’s not going to change,” he said in a November 2007 company news release. “But, to continue to compete and thrive in the global arena we have to shift the way we do things. This includes conducting business the best way possible for our customers: as a single global company with regional execution.”

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