Changing places

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Performance Metals appoints Richard Greco Jr. to the company’s board of directors; Navico, a market leader in marine electronics for the recreational boating segment, promotes John C. Bay to chief marketing officer.

Performance Metals appointed Richard Greco Jr., former assistant secretary of the Navy, to the company’s board of directors.

As the assistant secretary of the Navy for financial management, Greco served as the chief financial officer of the department.

“Richard’s high-profile expertise is an exceptional addition to the Performance Metals board of directors,” said Hank Leipert, CEO of Performance Metals, in a statement.“

Greco is president of Filangieri Capital Partners in New York City, a private equity firm seeking investment opportunities in Italy and emerging markets. He served as the assistant secretary of the Navy (financial management and comptroller) from 2004 to 2006. Prior to his confirmation by the Senate, Greco was a White House Fellow from 2002 to 2003.

Prior to government service, Greco was a managing director of the corporate finance advisory firm of Stern Stewart & Co., where he specialized in EVA-based corporate governance systems, performance measurement and management, incentive compensation, corporate valuation and financial market research. Before joining Stern Stewart in 1997, he was an associate at The Scowcroft Group, an investment advisory firm.

Greco holds an MBA in finance from the University of Chicago’s Graduate School of Business, a masters degrees from the Johns Hopkins University Paul H. Nitze School of Advanced International Studies, and a Bachelor of Science in chemistry from Fordham.

Based in Bechtelsville, Pa., Performance Metals manufactures Navalloy patented wear indicator sacrificial anodes, which help prevent corrosion on recreational, commercial and military vessels.

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Tulsa, Okla.-based Navico, a market leader in marine electronics for the recreational boating segment, promoted John C. Bay, senior vice president of sales and marketing for the Americas, to chief marketing officer for Navico.

He will still keep the responsibilities of senior vice president and, as CMO, will foster a global transition to marketing best practices within Navico, as well as define processes for global lead on brands and execution of brand promises.

Bay is also the newest member of Navico’s corporate executive committee, the company’s top management team.

Since joining Navico in September 2007, Bay has designed and implemented a unified sales and marketing organization in the United States, and established the Navico Global Marketing and Branding Council to facilitate best-practice sharing within the organization.

Prior to joining Navico, Bay worked for Nokia, Eastman Kodak and Bain & Co., where he held executive management, marketing and sales positions in North America, Europe and Asia. Bay holds an MBA from the MIT Sloan School as well as Bachelor of Science and Master of Science degrees in chemical engineering.

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