Hallstar is set to split its business into two separate entities.

From October this year, the US-based speciality chemical company will be doing business as Hallstar Industrial Solutions Company and Hallstar Beauty & Personal Care Company.

The company’s chairman, president, and CEO John Paro will step down as president, while retaining his other roles. The new entities will appoint new presidents to oversee operations and financial results.

Commenting on the development, Paro said: “I have always taken great pride in both sides of the business, and how both use our remarkable ester chemistry to address customers’ issues in a wide variety of industries.

“Setting ourselves up as two companies will allow our people to continue to do what they do best and focus fully on growth in their specific industry.”

“At the same time, we recognise that the landscapes of industrial solutions and beauty and personal care differ significantly in terms of client behaviour and product innovation.

“Setting ourselves up as two companies will allow our people to continue to do what they do best and focus fully on growth in their specific industry.”

In addition, Hallstar’s Europe, the Middle East and Africa (EMEA), Asia-Pacific (APAC), and global innovation vice-president Robert Hu has now been named as the president and chief technology officer (CTO) of Hallstar Beauty and Personal Care. Hu will assume the new responsibility on 1 October 2018.

The company is currently on the lookout for a new president for the Hallstar Industrial Solutions division.

Damian Marshall from the Industrial Solutions arm and Varun Mathur from the beauty and personal care unit will continue in their existing roles of vice-president and general manager. The pair will work closely with the new presidents.