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AMES, Iowa – Becker Underwood co-founders Jeff Becker and Roger Underwood have stepped back from daily operations at the specialty chemical producer as of Jan.1, the company announced. Together, the founders promoted current President, Dr. Peter Innes, to chief executive officer prior to their announcement. Both men will continue their involvement as members on the Becker Underwood board of directors and Underwood will remain chairman of the board.
Both founders had planned for this transition following their sale of stock to Norwest Equity Partners in August of 2004. The management transition allows Underwood and Becker to pursue long-held business, philanthropic and community interests.
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“We deeply love Becker Underwood and know it is on solid footing,” said Underwood. “While Jeff and I step back, we are confident the world-class team of people put in place will ensure the continued long term execution of the company mission.”
Becker agreed, saying, “Dr. Peter Innes will be a strong CEO whose proven leadership will continue to take the company forward.”
Underwood and Becker are stepping back 23 years after founding Becker Underwood in a 640-square-foot building in Ames. The company grew from $43,000 in first-year sales to over $100 million in 2005. Today Becker Underwood has 102 employees in Ames, Iowa and 340 globally.
Innes was formerly group managing director of the MicroBio Group Limited – a UK-based company that was Becker Underwood’s first international acquisition in 2000. Dr. Innes was appointed as president of Becker Underwood in 2001, and relocated to the company’s global headquarters in Ames in early 2002. Innes holds a PhD in Biological Sciences from Imperial College in London.