Specialty chemical maker KMG Chemicals has tapped its board chairman, Christopher T. Fraser, to serve as president and CEO.
He will retain the board chairmanship, the company said Wednesday, and the board will appoint a new lead director from among its independent board members.
Fraser has served as interim CEO since July 10, when CEO J. Neal Butler stepped down. The permanent appointment is effective immediately.
“After a thorough executive search that narrowed to several talented candidates, the board unanimously decided that the best person for the job was already serving as interim CEO,” said John C. Hunter III, chairman of the board’s governance committee, said in a statement.