The Chemical Show: Leadership Conversations on Strategy, Supply Chain, Innovation, Talent and Trends

Now an independent company, Lummus Technology has become a leading technology developer for new capacity expansion investments in the industry. Their expertise, reputation, and skilled team are applying startup energy to excel independently and drive innovation. Leon De Bruyn, President and CEO of Lummus, an expert in the technology and chemicals, has played a crucial role in the growth and success of Lummus. Leon explores the remarkable transformation of Lummus, a more than one hundred-year-old startup in startup mode. 

In this episode of The Chemical Show, host Victoria Meyer welcomes Leon to share his wealth of knowledge and experience as he uncovers the secrets behind Lummus' remarkable evolution. Leon shares his leadership strengths and abilities and sheds light on Lummus' emphasis on portfolio expansion, growth, and incorporating new technology innovators. Exploring their focus on providing expertise throughout the value chain and their investment in innovative technologies, Leon shares Lummus’ interest in energy transition and market growth. 

Learn more about the following topics this week:

• Challenges and opportunities of creating a new standalone company on the shoulders of an old company
• Shifting mindsets: From engineering hours to customer value and technology
• Instilling a new culture to drive growth and innovation
• The role of digitization in Lummus' business 
• Building a technology portfolio for the future

Victoria and Leon discuss Lummus’ accomplishments, its plans for the future, and the importance of leadership in navigating challenges, all while maintaining a culture of innovation and entrepreneurship. Join us as we uncover Lummus' fascinating story and gain valuable insights into the ever-evolving chemical industry.

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01:31 Leon de Bruyn’s origin story

2:40 100 year-old technology company in startup mode

4:42 Challenges and opportunities in carving out a technology business

8:39 How Lummus has become more customer-centric

15:34 Redefining company culture to support new business structure and strategy

18:20 The role of digitization in enabling Net Zero carbon goals

24:02 Aligning values and goals to create a successful partnership

26:15 Future portfolio growth opportunities for Lummus Technology

The energy transition is an undeniable force shaping the future of the chemical industry. Discussing the need for transparency, engaging with diverse stakeholders, and embracing innovative technologies to pave the way for a sustainable energy future, Beth Gould Creller, Kara Byrne, and Maggie Teliska, of Women's Energy Network (WEN) Podcast joins forces this week with Victoria Meyer on The Chemical Show.  

Women's Energy Network (WEN) is proving to be a game-changer for professional journeys across the industry - opening doors to a thriving network of executive members who share similar experiences and challenges. Finding support and building strong relationships within WEN, women from across the industry are enhancing their personal and professional growth. 

Learn more about the following topics this week:

• Women's Energy Network (WEN) Podcast Origin Story
• Creating a more coordinated and transparent effort in the energy industry
• Origins of The Chemical Show
• Balancing efforts in the energy industry through podcasting
• Leveraging the Women's Energy Network (WEN) for Professional Growth
• Connecting the workforce through WEN
• Navigating the energy transition
• Importance of Creative Solutions and Optimism in the Energy Transition

Victoria, Beth, Kara, and Maggie discuss power networking, the importance of company culture, and navigating the energy transition. Sharing their personal experiences with WEN, Victoria, Beth, Kara, and Maggie highlight the supportive network and opportunities for career development. Gain valuable insights on recognizing untapped talent, fostering an inclusive environment, and engaging with stakeholders for a holistic approach to decarbonization in the energy industry. 

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***Like what you hear?   Leave a rating and review.
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Effective diversification requires assessing future market trends, identifying parallel markets that align with existing products, and extending reach geographically. In this episode of The Chemical Show, host Victoria Meyer, explores the various reasons why companies choose to diversify, including gaining a competitive edge, growing profits, and navigating industry changes. Victoria also discusses the evolving nature of global and regional supply chains and how diversification strategies need to adapt to these changes. 

This the final episode of host Victoria Meyer’s 3 part series on approaches chemical companies are taking to combat the market weakness in the first half of this year (for more on this, check out Episode 118 of The Chemical Show where Victoria reviews 2Q23 earnings reports, Episode 120 which covers Commercial Discipline, and Episode 122 which covers Customer Centricity.   

Learn more about the following:

• How diversification creates business resilience
• Good business performance in a flat economy = diversification decisions made early on
• How companies diversify
• The importance of market adjacencies in diversification

Considering the power of customer and market diversification in driving business resilience, Victoria Meyer delves into the importance of diversification in creating a strong and adaptable business. Victoria highlights the perspectives of industry leaders and provides insights into how diversification can help chemical companies navigate flat and inflationary markets, beat the competition, and thrive in times of uncertainty.

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*** Engage with other leaders on Customer Centricity at The Chemical Summit www.thechemicalsummit.com

Additional Links:

Igor Ansoff

Successfully navigating a newly-formed company’s first years comes with challenges and opportunities in business systems, workforce development, and sustainable manufacturing.  Listen and learn as Victoria Meyer speaks with John Foley, CEO of Verdant Specialty Solutions about solidifying the business in its first two years, then building a platform for growth.

John discusses leading the acquisition and integration of multiple businesses in the chemical sector. With a focus on building a strong team, implementing sustainable practices, and leveraging technology, John has brought Verdant to new heights of success. Having recently acquired a specialty oxide plant and a range of businesses, John shares his insights on workforce development, strategic acquisitions, and the importance of balancing commercial strategy with team-building efforts.

Learn more about the following topics this week:

• Verdant 1.0 - buying and integrating the 3 businesses, standing up a back office, implementing an ERP system, and safety and compliance
• Introduction of Verdant 2.0 - growth strategy
• Identifying what's really creating value for your customers
• How Verdant is navigating an uncertain economy
• Sustainable Manufacturing
• Maximizing the Potential of a state of the art specialty chemical plant
• Finding Business success in teamwork

Victoria and John chat about the importance of sustainable manufacturing and the potential to strengthen a smaller chemical company’s technology capabilities through external acquisitions. Join them as they uncover the secrets to building a successful chemical company on The Chemical Show.

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Ep 122 Show Notes

Customer Centricity is more than customer satisfaction, it’s about centering on the “right” customers to create Strategic Value. Host Victoria Meyer delves into the concept of customer centricity and its role in creating business resilience. Through insights from leading chemical companies' earnings reports and experts, Victoria unpacks the importance of customer centricity and its impact on strategic value creation.

This is part 2 of host Victoria Meyer’s 3 part series on approaches chemical companies are taking to combat the market weakness in the first half of this year (for more on this, check out Episode 118 of The Chemical Show where Victoria reviews 2Q23 earnings reports and Episode 120 which covers Commercial Discipline.  

Learn more about the following:

• Defining customer centricity in the chemical industry
• Putting the right customers at the center of your business
• Assessing customer lifetime value
• Why strategic alignment matters
• Business segmentation to create a higher level customer experience
• Employee buy-in

Victoria explores the definition and differentiation of customer centricity from customer service, highlighting that not all customers are created equal. Emphasizing the need to focus on the right customers to create strategic value, Victoria shares key elements of customer centricity, including customer lifetime value, strategic alignment, segmentation, and employee buy-in. 

Gain a deeper understanding of the journey towards customer centricity and how it can enhance business resilience in challenging market conditions.

***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.
***Like what you hear? Leave a rating and review.
***Want more insights? Sign up for our email list at www.thechemicalshow.com.
*** Engage with other leaders on Customer Centricity at The Chemical Summit.   www.thechemicalsummit.com

Have you ever wondered how the future of operational excellence in the chemical industry will be shaped by digital transformation? In this episode of The Chemical Show, Victoria Meyer welcomes guest Stephen Reynolds, Industry Principal for the Chemical Segment at AVEVA, a global leader in industrial software, driving digital transformation and sustainability. Stephen shares his insights into how technology is revolutionizing operational excellence and empowering employees to drive the business forward. 

In this episode, Stephen, brings a wealth of knowledge and experience in the chemical industry. With 25 years of working as a chemical engineer, Stephen has witnessed the evolution of operational excellence firsthand. Victoria and Stephen discuss the changing landscape of the industry and how companies are becoming leaner, relying on advancements in technology to empower their employees. Stephen delves into the concept of the Connected Worker and how augmented reality and virtual reality tools are transforming how operators on the shop floor access and utilize information. This episode is a must-listen for professionals looking to understand the future of operational excellence in the digital age.

Learn more about the following topics this week:

• Using operational excellence to achieve a higher level of performance
• How the chemical and plastics industry's approach to operations and operational excellence has evolved
• Bridging the gap of the information through Connected Worker
• What is a digital twin and how do you harness its power?
• The value in digital transformation for small to mid-sized chemical companies.
• Digital assets aiding in sustainability and ESG transparency and accountability

Join us in this insightful episode as we explore the future of operational excellence in the chemical industry. Stephen shares his expertise on how companies are leveraging technology to build a more sustainable and efficient future. From the power of the digital twin concept to the implementation of advanced analytics and AI tools, Stephen provides valuable insights into how technology is revolutionizing the chemical industry.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Exercising good commercial discipline is critical to business resilience and navigating the challenges of today's economy.

Over the next 3 episodes, host Victoria Meyer will be diving deep into approaches that chemical companies are taking to combat the market weakness we've seen in the first half of this year (for more on this, check out Episode 118 where I review 2Q23 earnings reports).   Victoria’s topic this week: Commercial Discipline

Victoria dives into the concept of commercial discipline and how it can help companies optimize resources, control costs, and maintain strong market positions. Unpacking various approaches that companies are taking, touches on the following strategies for commercial discipline:

• Cost optimization as a key component of commercial discipline
• Controlling the right costs and understanding value through cost clarity
• Cashflow management
• Business efficiency and optimization through automating and streamlining processes
• Prioritizing & optimizing products and solutions

Exploring the concept of control and clarity as essential components of commercial discipline, Victoria emphasizes the need to focus on the right costs and gain a deep understanding of actual costs rather than relying on assumptions. Discussing the role of cash flow management in improving financial stability, Victoria explores strategies for optimizing business efficiency and supply chains. Additionally, Victoria highlights the significance of prioritizing and optimizing products to drive growth and profitability. Don't miss this episode packed with actionable strategies to enhance your company's commercial discipline.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Trillium is making waves with their green technology, replacing petroleum  feedstocks with renewable feedstocks to make acrylonitrile. In this episode of The Chemical Show, host Victoria Meyer chats with Corey Tyree, the co-founder and CEO of Trillium Renewable Chemicals about building successful partnerships, the power of experience, and driving sustainability in the chemical industry. 

Learn more about the following topics this week:

• Creating partnerships to support product development in a startup 
• Hallmarks of a great partnership
• The diverse end-uses of acrylonitrile
• The importance of customer development and consumer demand
• The challenge of talent development and acquisition in a startup
• Feasibility of Net zero and carbon neutrality by 2050

Victoria and Corey dive into the importance of partnerships with corporations, transparency, and trust in achieving successful collaborations, as well as the challenges and opportunities in scaling up their manufacturing plant. Corey also shares insights into the growing demand for green chemistry chemistry and the need for more industry experience within the startup space. Join Victoria and Corey as they explore the exciting world of renewable chemicals and the quest for a more sustainable future.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

While most chemical industry companies and business leaders were anticipating improvements by 2H23, it has proved to be a challenging quarter for most companies, leading into a challenging year. In this episode of The Chemical Show, host Victoria Meyer explores why many companies are lowering full-year earnings outlooks and what’s driving current market conditions. 

Learn more about the following in this episode:

• Insights from 2Q23 chemical industry earnings reports
• Worst period of chemical inventory destocking since 2008-9
• Effect of sluggish economies in Europe and China
• Inflationary effects - slowing demand for consumer goods
• Strategies companies are using to respond to challenging market conditions

Join Victoria as she digs into the second quarter 2023 earnings reports, analyzing the challenges faced by chemical companies and searching for valuable insights. Victoria shares indicators for improvement on the horizon, the possibilities of a period of flat demand before a significant increase, as well as the expected inventory restocking.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.

Additional links:

2Q23 Earnings Reports:

Huntsman 

Stepan

Eastman

Shell

BASF

Lanxess

Chemours

Phillips 66

ExxonMobil

The global chemical industry job market continues to feel the ripple effects from the pandemic and work-life balance values have shifted. Sharing his insights on the state of the chemical industry, Stephen Mothersole, CEO of Chemical Search International, joins host Victoria Meyer on The Chemical Show to discuss the challenges in diversity and inclusion, the impact of remote work on talent acquisition, and the changing hiring criteria post-COVID.

Learn more about the following topics this week:

• Current trends in chemical industry talent search: DE&I, AI, shift to remote work
• Soft skills in chemical industry job candidates
• How global events are affecting executive search
• Tools for finding talent in today's job market
• Most active sectors within the industry for talent development and movement
• War on chemical industry talent in Europe and Asia
• Hiring outlook for 2023 and 2024

Victoria and Stephen acknowledge that the talent pool in the chemical industry, especially in petrochemicals, is not as diverse and that diversity and inclusion within the industry has a long way to go. Victoria and Stephen discuss the importance of human interaction, AI’s impact on executive search, and the age of remote work.

Please subscribe to The Chemical Show on your favorite podcast player. And, visit www.thechemicalshow.com to subscribe to our email list and get additional insights.