Ecolab CFO to retire

  • Article by: DEE DEPASS , Star Tribune
  • Updated: August 2, 2012 - 9:17 PM

Dan Schmechel is new CFO

Ecolab's chief financial officer is retiring and will step down effective Oct. 1, company officials announced Thursday.

Steven L. Fritze has been with Ecolab for 32 years and was CFO for 10 years. He will be succeeded by Daniel Schmechel.

Schmechel, 52, joined Ecolab in 1995. He is currently the executive vice president of Finance, and is responsible for tax, treasury and the corporate controller functions. Going forward, Schmechel will oversee the financials of a larger ship as Ecolab continues to integrate its December acquisition of Nalco, an industrial water treatment firm that specializes in the papermaking, oil exploration and refinery industries. The combined companies have $11 billion in annual sales and more than 40,000 employees.

In a statement Ecolab Chairman and CEO Doug Baker said that Schmechel is well-positioned for his new role.

"He has served in the critical finance areas and in Europe, and possesses excellent financial and management skills. We look forward to Dan's leadership as we continue to pursue our aggressive growth plans."

Baker also paid tribute to the CFO who has stood by his side during his entire time at the helm of Ecolab.

"Steve has been an outstanding CFO and made lasting contributions to Ecolab throughout his 32 years of service," Baker said. "His dedication to the company has been the hallmark of his work, and his counsel and support is something that I have valued greatly."

Dee DePass • 612-673-7725

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