(RTTNews) - Diversified chemical company FMC Corp. (FMC: News ) Friday announced the appointment of Pierre Brondeau as President and Chief Executive Officer succeeding William Walter, with effect from January 1, 2010.

The company stated that Brondeau has also been elected to the company's board of directors. Walter would continue as the Chairman of the Board until his retirement date of October 1, 2010.

Brondeau retired from Dow Chemical Co. in September where he served as President and Chief Executive Officer of Dow Advanced Materials. Prior to joining Dow, Brondeau was President and Chief Operating Officer of Rohm and Haas Company, which was acquired by Dow Chemical in 2009.

The Philadelphia, Pennsylvania-based company said, Brondeau, who also serves on the board of directors of Tyco Electronics, becomes the 11th director on the FMC Board. FMC added that Walter and Brondeau would be the only non-independent directors.
Recently, the company posted a decline in third-quarter profit totaling $28.0 million or $0.38 per share, compared to $80.0 million or $1.05 per share a year earlier, reflecting weak performance at its Chemical segment. Quarterly revenues dropped 13% to $713.3 million from $820.8 million reported in the previous year.

FMC shares are currently trading at $52.17, down 31 cents or 0.59% on NYSE. The stock has been trading in the range between $30.01 and $58.13 in the past 52 weeks.

To receive FREE breaking news email alerts for FMC Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com