By Christine Imbs
Chinese philosopher Lao-tzu once said, “A journey of a thousand
miles begins with a single step.” For Jeffry Quinn, that step began when he
joined Solutia.
Today, the St. Louis-based company is a market leader in performance materials with more than 60 locations across five continents. But when Quinn came on board as senior vice president and general counsel in January 2003, it was a company under a certain amount of duress. Solutia had spun off from Monsanto in 1997 and was facing a host of legacy environmental, litigation and retiree obligations. To make matters worse, at the same time it was confronting some profound economic and competitive difficulties. Unsurprisingly, the company filed bankruptcy in December of 2003, setting in motion a four-year reorganization process that culminated with the company’s emergence in February of 2008.
“Going through bankruptcy was like going on a long journey,” says Quinn, who was named president and CEO in 2004, and added the responsibilities of chairman in 2006. “But emerging from bankruptcy was never our destination. It’s merely a checkpoint along the journey. And neither is it success. What we’ve created is the opportunity for success. We’ve leveled the playing field. Now it’s up to us.”
Quinn grew up in rural western Kentucky, where mining and agriculture were the dominant industries. His dad worked in the mines to put him and his three sisters through school.
“My parents were adamant about education,” he says. “My grandfather had gone to college and played college football around the turn of the century. But the family lost everything in the Great Depression. So I always felt a real sense of responsibility to do something with the opportunities my parents provided.”
Quinn worked in the underground coal mines during summers and holidays to pay for college. He attended the University of Kentucky, where he received both an engineering degree in mining and a law degree. After graduation, he worked for a few years for a law firm in Lexington before moving to St. Louis, where he joined Arch Coal.
“I was there for 15 years and got the opportunity at probably too early of age (30) to be general counsel,” he says. “It evolved into helping Arch grow from a really small regional coal company to the second largest coal producer.”
Blackstone Capital Partners, a large New York-based private equity firm who had purchased Clark Refining in St. Louis, recruited Quinn in 2000. Quinn helped take Clark public in 2002, changing its name to Premcor. When Premcor decided to move its headquarters to Connecticut, Quinn opted to stay in St. Louis, where Solutia beckoned.
Now, five years later, Quinn looks back at his, and Solutia’s journey with a great deal
of pride.
“For the last five years the bankruptcy has dominated my life, as it has many people here,” he says. “In many ways it’s been dramatic and traumatic. But it’s also a great story of how 6,000 men and women worldwide came together to accomplish what no one thought they ever could.”
A marathon runner, Quinn equates the experience with running the Boston Marathon.
“There’s a famous part of the course called Heartbreak Hill,” he says. “It’s not that big
of a hill, but it comes late in the race, so it looks like a mountain when you get to it. At Solutia, we’ve been on our own marathon. We’ve tested ourselves, and we’ve gotten to that point in the race where you’ve got to dig down and question what you’re all about, who you are, and how tough you are. We’ve responded to that with resiliency and courage. We’ve done some great things and have created something that is and will be very special going forward.”
TalkingPOINTS
BORN: Kentucky
FAMILY: Wife, Jennifer, and three
daughters
EDUCATION: Bachelor’s degree in
engineering and Juris Doctor degree from University of Kentucky
FAVORITE BOOK: “Atlas Shrugged” by
Ayn Rand
FAVORITE MUSIC: “With three daughters my taste runs from country to rap.”
HOBBIES: “I’m a runner and an avid golfer, but my daughters are my
greatest hobby.”
ON TRAVEL: “I’ve enjoyed Asia, Europe and South America.”
ON ST. LOUIS: “It’s a great community that’s vastly under appreciated and underrated.” |
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