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By Market News Video Staff, Monday, November 22, 12:18 PM ET
H.B. Fuller (NYSE:FUL) said today Jim Owens would succeed president CEO Michele Volpi effective immediately. Volpi is stepping down from the board of directors as well. No reason was given for Volpi’s sudden departure and shares were lower by about 1.3% on the news. Owens has served as senior vice president of the Americas for the company since 2008.
The stock is the sixth-largest holding in the S&P SmallCap Materials Portfolio (XLBS), trading higher by 0.6% today. Schweitzer-Mauduit International (NYSE:SWM) accounts for 5.89% of the portfolio, while the OM Group (NYSE:OMG) is the second largest holding at 5.8%. For a full list of holdings, visit the XLBS Holdings page.
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