Richard Rompala
Encyclopedia
Richard M. Rompala is an America
n executive
currently on the board of directors
of the Olin Corporation. He was chairman of Valspar
from February 1998 until his retirement in July 2005. He had previously served as both CEO
and president of Valspar. Rompala's leadership is credited with significantly expanding Valspar's international business
operations, where it had previously been a primarily North America
n business.
family on Pittsburgh
's strongly Eastern Europe
an South Side
. Rompala's steelworker father eventually moved the family to Ambridge, Pennsylvania
.
In 1964, Rompala went to Columbia University
, earning bachelors degrees in chemistry
and chemical engineering
in 1969. He went on to Harvard Business School
where he earned an MBA
in 1975.
and eventually served as a senior vice president of operations at Mueller Brass. In 1985, he went to work for PPG Industries
starting as a vice president of corporate development
. He was eventually promoted to group vice president of chemicals and then to group vice president of resin
s and coatings. In 1993, PPG's chairman and CEO
, Vincent Sarni was on the verge of retirement, and outside speculation suggested that Rompala was a serious contender to take his place. This, however, did not happen, and Rompala left PPG.
In May 1994, Rompala was elected president of Valspar. On October 30, 1995, he assumed the position of CEO
at Valspar, succeeding C. Angus Wurtele in that position. He went on to replace Wurtele as chairman in February 1998, with Wurtele staying on Valspar's board of directors. Rompala's contributions at Valspar enabled them to increase their overseas revenues from 3% in the mid-1990s to nearly 30% by 2004. Rompala accomplished this by opening joint venture
s in China
, Hong Kong
, Brazil
, South Africa
and Mexico
.
In 1998, Rompala went to work on the Olin Corporation's board of directors
, where he currently serves as the lead director and chair of the compensation committee. Rompala retired from Valspar as chairman in July 2005.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
n executive
Senior management
Senior management, executive management, or management team is generally a team of individuals at the highest level of organizational management who have the day-to-day responsibilities of managing a company or corporation, they hold specific executive powers conferred onto them with and by...
currently on the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the Olin Corporation. He was chairman of Valspar
Valspar
The Valspar Corporation is an international manufacturer of paint and coatings based in Minneapolis, Minnesota. It is the fifth largest paint and coating corporation in the world. The 200+ year old Valspar was founded in 1806 as a paint dealership in Boston, Massachusetts...
from February 1998 until his retirement in July 2005. He had previously served as both CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
and president of Valspar. Rompala's leadership is credited with significantly expanding Valspar's international business
International Business
International business is a term used to collectively describe all commercial transactions that take place between two or more regions, countries and nations beyond their political boundary...
operations, where it had previously been a primarily North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
n business.
Early life and education
Richard Rompala was born in 1947 to a working classWorking class
Working class is a term used in the social sciences and in ordinary conversation to describe those employed in lower tier jobs , often extending to those in unemployment or otherwise possessing below-average incomes...
family on Pittsburgh
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
's strongly Eastern Europe
Eastern Europe
Eastern Europe is the eastern part of Europe. The term has widely disparate geopolitical, geographical, cultural and socioeconomic readings, which makes it highly context-dependent and even volatile, and there are "almost as many definitions of Eastern Europe as there are scholars of the region"...
an South Side
South Side (Pittsburgh)
South Side is an area in Pittsburgh, Pennsylvania, USA, located along the Monongahela River across from Downtown Pittsburgh. The South Side is officially divided into two neighborhoods, South Side Flats and South Side Slopes. Both the Flats and the Slopes are represented on Pittsburgh City...
. Rompala's steelworker father eventually moved the family to Ambridge, Pennsylvania
Ambridge, Pennsylvania
Ambridge is a borough in Beaver County in Western Pennsylvania, incorporated in 1905 and named after the American Bridge Company. Ambridge is located 16 miles northwest of Pittsburgh, alongside the Ohio River. In 1910, 5,205 people lived in Ambridge; in 1920, 12,730 people lived there, and in...
.
In 1964, Rompala went to Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, earning bachelors degrees in chemistry
Chemistry
Chemistry is the science of matter, especially its chemical reactions, but also its composition, structure and properties. Chemistry is concerned with atoms and their interactions with other atoms, and particularly with the properties of chemical bonds....
and chemical engineering
Chemical engineering
Chemical engineering is the branch of engineering that deals with physical science , and life sciences with mathematics and economics, to the process of converting raw materials or chemicals into more useful or valuable forms...
in 1969. He went on to Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
where he earned an MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
in 1975.
Management work
Rompala got his first management position at the Olin Corporation, running their flexible urethanes division. He left this position in 1979 to work for Victor PosnerVictor Posner
Victor Posner was an American businessman. He was known as one of the highest paid business executives of his generation. He was a pioneer of the leveraged buyout.-Career:...
and eventually served as a senior vice president of operations at Mueller Brass. In 1985, he went to work for PPG Industries
PPG Industries
PPG Industries is a global supplier of paints, coatings, optical products, specialty materials, chemicals, glass and fiber glass. With headquarters in Pittsburgh, Pennsylvania, PPG operates in more than 60 countries around the globe. Sales in 2010 were $13.4 billion...
starting as a vice president of corporate development
Corporate development
Corporate Development refers to the planning and execution of a wide range of strategies to meet specific organizational objectives. The kinds of activities falling under corporate development may include initiatives such as recruitment of a new management team, plans for phasing in or out of...
. He was eventually promoted to group vice president of chemicals and then to group vice president of resin
Resin
Resin in the most specific use of the term is a hydrocarbon secretion of many plants, particularly coniferous trees. Resins are valued for their chemical properties and associated uses, such as the production of varnishes, adhesives, and food glazing agents; as an important source of raw materials...
s and coatings. In 1993, PPG's chairman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
, Vincent Sarni was on the verge of retirement, and outside speculation suggested that Rompala was a serious contender to take his place. This, however, did not happen, and Rompala left PPG.
In May 1994, Rompala was elected president of Valspar. On October 30, 1995, he assumed the position of CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
at Valspar, succeeding C. Angus Wurtele in that position. He went on to replace Wurtele as chairman in February 1998, with Wurtele staying on Valspar's board of directors. Rompala's contributions at Valspar enabled them to increase their overseas revenues from 3% in the mid-1990s to nearly 30% by 2004. Rompala accomplished this by opening joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
s in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
and Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
.
In 1998, Rompala went to work on the Olin Corporation's board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, where he currently serves as the lead director and chair of the compensation committee. Rompala retired from Valspar as chairman in July 2005.