W.R. Grace & Co. announced Friday that CEO Fred Festa will retire toward the end of next year from the Columbia-based chemicals and materials company.
Festa, who became CEO is 2005, guided the company through a long criminal case related to its asbestos mine in Libby, Mont., and out of its nearly 13-year asbestos-related bankruptcy in 2014. He will step down in the fourth quarter of 2018.
Appearing to set up executive succession, W.R. Grace also said that Hudson La Force, its president and chief operating officer, has been elected as a director of the company. Formerly the chief financial officer, La Force became president in 2016.
Festa will remain as...