Gregory E. Lawton, president and chief executive officer of JohnsonDiversey Inc., will retire from the $3 billion-a-year manufacturer of institutional and industrial cleaning products, the Milwaukee Journal Sentinel newspaper reported.
Lawton, 54, has been CEO of the Sturtevant, Wis.-based company for five years, a period that saw a huge acquisition and, more recently, declining financial performance.
Neither the company's decreasing profits nor a downgrading earlier this year of its debt were factors in Lawton's coming departure, JohnsonDiversey spokesman John Matthews told the newspaper.
"He made the decision to retire, and agreed to assist the company in a transition to new leadership," Matthews said. "The company has grown rapidly with Greg at the helm and we'll be looking to a new leader to take it to the next level. But this was Greg's decision."
Lawton will remain in his current role until a successor is named.
Marketing globally, JohnsonDiversey makes detergents, disinfectants, degreasers, air fresheners, carpet shampoos and floor waxes, as well as acrylic polymer resins used in printing and packaging.
Spun off from S.C. Johnson & Son Inc. in 1999, the firm is the commercial-market counterpart to the better-known consumer products company.
