PPG Industries announced that Senior Vice President and Chief Financial Officer Vince Morales will retire on July 1 2026 after 41 years with the company and nine years as CFO. Morales, who joined PPG in 1985, has overseen the firm’s transformation into a global leader in paints, coatings and specialty materials, guiding portfolio optimization, cost‑control initiatives and strategic acquisitions that have driven consistent earnings growth.
The company confirmed that Morales will remain on the executive team through his retirement date to ensure a seamless handover. A global search—both internal and external—is underway to identify his successor, reflecting PPG’s commitment to leadership continuity amid a broader wave of executive transitions, including the upcoming departure of Senior Vice President and General Counsel Anne M. Foulkes.
PPG’s financial performance under Morales has been robust. In the third quarter of 2025, the company reported net sales of $4.08 billion, up 1% year‑over‑year, and adjusted earnings per share of $2.13, beating analyst estimates by $0.24. The modest revenue growth was supported by steady demand in core segments such as automotive and industrial coatings, while margin expansion was driven by disciplined cost management and a favorable mix shift toward higher‑margin specialty products.
Management highlighted that Morales’ leadership was instrumental in executing portfolio divestitures—including the sale of silicas and U.S./Canada architectural coatings—and in driving a $1.5 billion cost‑saving program that has reinforced the company’s operating leverage. CEO Tim Knavish praised Morales, noting that his “deep understanding of PPG’s transformation and global operations has been a cornerstone of the company’s success.”
The planned retirement signals a strategic inflection point. While the transition is expected to have minimal immediate operational impact, the new CFO will inherit a company that has completed significant restructuring and is focused on innovation and growth. The succession process underscores PPG’s proactive approach to maintaining stability and confidence among investors, employees and customers as it continues to navigate a competitive market environment.
The announcement also aligns with PPG’s broader leadership refresh, which includes the upcoming transition of other senior executives. Together, these changes reinforce the company’s long‑term strategy of disciplined financial stewardship, portfolio optimization, and investment in high‑return growth areas.
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