Kemet Corp. named James McClintock president and chief operating officer Thursday, with Jeffrey Graves relinquishing his president's title to focus on serving as chief executive.
In another move, William Bachrach was named vice president and chief technology officer of the Greenville, S.C., capacitor supplier.
McClintock said in an interview the changes were made to bolster the company's management, which had been without a chief operating officer since March when Graves was promoted to chief executive. Graves became Kemet's president and chief operating officer in October 2002.
Kemet has continued to struggle with unprofitable quarters the last two years as price erosion and offshore competition have taken a toll on the capacitor supplier's sales and earnings. Though unit sales have risen recently, prices have continued to erode, contributing to Kemet posting a $43.3 million net loss on sales of $100.1 million in its fiscal quarter ended September.
In the past year, Kemet has attempted to restructure itself into a more global, technology-focused company. The company is accelerating the relocation of its manufacturing offshore, including establishing a plant in China for the first time. In addition, the company recently completed several small acquisitions to strengthen its offerings in specialty products.
Kemet's corporate management has undergone other changes. Longtime Kemet veteran Ray Cash retired as vice president and chief financial officer September 1st, and was replaced by David Gable. Kemet also added two new members to its Board of Directors earlier this month, Joseph Swann of Rockwell Automation Power Systems and Frank Brandenberg of Northrop Grumman Corp.
McClintock is no stranger to Kemet, having served with the company 24 years in various engineering, technology, and manufacturing positions. Most recently, he served as vice president, Global Manufacturing, which included leading the start-up of the Suzhou, China plant.
Bachrach was previously Kemet's vice president of Business Development and Technology. Prior to Kemet, he was in General Electric Corporate Research and Development and later at that company's Power Systems Division in Schenectady, N.Y.