Oncology
Global

Oncology Experts

Fred E. Festa

Chairman and Chief Executive Officer
Radiology
Grace Pharmaceuticals Pvt. Ltd.
Nepal

Biography

 Fred has led the transformation of Grace into a fully-integrated global operating company. During his tenure, revenue increased 60 percent and net sales increased from $1.8 billion in 2003 to $3.1 billion in 2015.  Adjusted EBITDA expanded from $252 million to $750 million, while Adjusted Free Cash Flow rose from $53 million to $430 million. In 2015-16, Fred led the separation of Grace into two independent public companies that are expected to benefit from improved strategic focus, simplified operating structures, and more efficient capital allocation. The separation was completed through a tax-free spin-off of Grace's Construction Products segment and Darex Packaging Technologies business into a new company, GCP Applied Technologies Inc. (NYSE: GCP). Grace continues to operate the Catalysts Technologies and Materials Technologies business segments (excluding Darex). Grace has completed 23 acquisitions and seven divestitures under Fred's leadership. The company's portfolio was rebalanced, expanding the breadth of the catalysts business and increasing polypropylene catalysts revenue more than $200 million in less than five years.  The silica-related Materials Technologies segment was solidified and entered into pharmaceutical applications. Prior to the 2016 separation, the Construction Products unit expanded through new technologies and bolt-on acquisitions. Grace expanded its geographic platform, increasing emerging region sales from 21 percent to over 38 percent of total sales.  With the Board of Directors, Fred guided the company through the longest and one of the most complex and contested Chapter 11 reorganizations in history, ending on February 3, 2014. Under the reorganization, all pending and future asbestos-related claims are channeled to independent trusts and all non-asbestos creditors were paid in full.   Fred came to Grace from Morgenthaler Private Equity Partners where he was a partner. Previously, he was President and CEO of ICG Commerce. At AlliedSignal, Inc. (now Honeywell) from 1993 to 2000, he held leadership roles in general management, business development, and finance in the company's specialty chemical, polymer, chemical intermediaries, and fibers businesses, including service as Vice President and General Manager of the performance fibers business. Fred began his career at General Electric (GE), where he spent 12 years in financial management positions at five business units. He completed GE's Financial Management Training Program and its benchmark General Management Course. Fred graduated magna cum laude with a Bachelor of Science degree in Finance from the State University of New York at Oswego. Fred also has served since 2008 as an independent director of NVR, one of the largest home builders in the United States.

Research Interest

 Fred has led the transformation of Grace into a fully-integrated global operating company. During his tenure, revenue increased 60 percent and net sales increased from $1.8 billion in 2003 to $3.1 billion in 2015.  Adjusted EBITDA expanded from $252 million to $750 million, while Adjusted Free Cash Flow rose from $53 million to $430 million. In 2015-16, Fred led the separation of Grace into two independent public companies that are expected to benefit from improved strategic focus, simplified operating structures, and more efficient capital allocation. The separation was completed through a tax-free spin-off of Grace's Construction Products segment and Darex Packaging Technologies business into a new company, GCP Applied Technologies Inc. (NYSE: GCP). Grace continues to operate the Catalysts Technologies and Materials Technologies business segments (excluding Darex). Grace has completed 23 acquisitions and seven divestitures under Fred's leadership. The company's portfolio was rebalanced, expanding the breadth of the catalysts business and increasing polypropylene catalysts revenue more than $200 million in less than five years.  The silica-related Materials Technologies segment was solidified and entered into pharmaceutical applications. Prior to the 2016 separation, the Construction Products unit expanded through new technologies and bolt-on acquisitions. Grace expanded its geographic platform, increasing emerging region sales from 21 percent to over 38 percent of total sales.  With the Board of Directors, Fred guided the company through the longest and one of the most complex and contested Chapter 11 reorganizations in history, ending on February 3, 2014. Under the reorganization, all pending and future asbestos-related claims are channeled to independent trusts and all non-asbestos creditors were paid in full.   Fred came to Grace from Morgenthaler Private Equity Partners where he was a partner. Previously, he was President and CEO of ICG Commerce. At AlliedSignal, Inc. (now Honeywell) from 1993 to 2000, he held leadership roles in general management, business development, and finance in the company's specialty chemical, polymer, chemical intermediaries, and fibers businesses, including service as Vice President and General Manager of the performance fibers business. Fred began his career at General Electric (GE), where he spent 12 years in financial management positions at five business units. He completed GE's Financial Management Training Program and its benchmark General Management Course. Fred graduated magna cum laude with a Bachelor of Science degree in Finance from the State University of New York at Oswego. Fred also has served since 2008 as an independent director of NVR, one of the largest home builders in the United States.

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