MOVES: US Rentech CEO Ramsbottom resigns, Forman assumes role

10 December 2014 22:39 Source:ICIS News

HOUSTON (ICIS)--US Rentech announced on Wednesday that its chief executive officer Hunt Ramsbottom has resigned and that the producer has appointed Keith Forman as his replacement.

Ramsbottom has also stepped down as president of Rentech and chief executive officer of the general partner of Rentech Nitrogen Partners and as a member of the board of directors for both companies. He cited the desire to pursue other opportunities after nearly a decade with the firm.

“I’m proud of what we have built together here. After nine years, I feel it is the right time to pass the baton and let new leadership take the company into its next phase of growth. I remain very optimistic about Rentech’s future,” said Ramsbottom.

Forman, a member of Rentech Nitrogen’s board since October 2011, has been appointed as chief executive officer and president of Rentech and chief executive officer of the general partner of Rentech Nitrogen. He has also joined the respective boards.

In a statement the company said Forman has an extensive background in master limited partnerships and has worked in a variety of roles including as a banker, a senior executive and a director. He previously served as chief financial officer of Crestwood Midstream Partners and as senior vice president for El Paso Corporation.

“The board of directors thanks Hunt for his leadership over the past nine years. Hunt spearheaded many successful transitional phases of the company, including the initial public offering of Rentech Nitrogen, the wind-down of the company’s alternative energy business and entry into the wood fibre business,” said Halbert Washburn, chairman of the board of directors.

“We’re confident that Keith can continue to successfully grow the company. With Keith’s rich experience in MLPs, we believe he is well qualified to lead the company as it works toward its goal of launching an MLP of the fibre business. As a member of Rentech Nitrogen’s board, Keith’s familiarity with Rentech’s fertilizer business will provide a smooth transition to his roles as CEO of Rentech and Rentech Nitrogen.”

By Mark Milam