PPG Industries (PPG, Financial) has announced the retirement of Ramaprasad Vadlamannati, who has served as the Senior Vice President, Operations. Mr. Vadlamannati stepped down from his role effective October 1, 2024, and will remain actively employed with the company through December 31, 2024, as part of a structured transition plan.
In accordance with a Separation Agreement, Mr. Vadlamannati will enter an unpaid leave of absence from January 1, 2025, through December 31, 2025. As part of the agreement, he will receive a separation payment totaling $102,000, distributed in three equal installments. Additionally, he will be eligible for an annual cash bonus in February 2025, based on his performance in 2024.
Mr. Vadlamannati's previously awarded stock options, restricted stock units, and total shareholder return contingent shares will vest according to their original terms. PPG Industries has also committed to providing Mr. Vadlamannati with financial counseling services, as well as specified tax preparation and consulting services, to assist in his transition.
This announcement marks a significant transition for PPG Industries as it continues to navigate leadership changes while maintaining its commitment to operational excellence and shareholder value.
Should you invest in PPG Industries Inc (PPG, Financial) right now? Before you do it, it’s important to understand the business profitability and stock valuations, and find out what the warning signs are about. See the in-depth PPG Industries Inc (PPG) stock research here.
