Hady Seyeda, chief executive of tungsten specialist H.C. Starck Tungsten Powders, has also been appointed deputy CEO of parent company Masan High-Tech Materials (MHT). As CEO Craig Bradshaw’s right-hand man, Seyeda will control all tungsten activities worldwide, with the exception of ore production and processing at the Nui Phao mine in Vietnam.
In his dual roles, Seyeda will focus on ensuring cross-business operations optimisation, maximisation of sales opportunities and execution of strategy. Having already been part of the executive management team as CEO of H.C. Starck Tungsten Powders, the new role now overarches the entire business and therefore takes on a more strategic leadership aspect, with oversight of all tungsten-related business within the group.
The appointment took place on 12 April at the annual general meeting of MHT, at which Bradshaw presented a fiscal year that included the closing of the acquisition of H.C. Starck Tungsten Powders and a strategic alliance with Mitsubishi Materials Corp. In 2020, particularly due to the acquisition of H.C. Starck Tungsten Powders, net sales increased year-over-year by 55% to the equivalent of around 265 million euros.
MHT has set a goal of net sales growth of around 50% for 2021, based on the year-round consolidation of H.C. Starck Tungsten Powders as well as higher sales and market prices.