DEFINITION of 'James P. Mooney'

James P. Mooney was the President, CEO, and chairman of the board for his family company of Mooney Chemicals, a chemical company that manufactured industrial metals for a B2B market. In the course of his tenure through the company, James P. Mooney took Mooney Chemicals through a major merger, several company restructurings, and also the process of going public in the mid-1990s.

BREAKING DOWN 'James P. Mooney'

Born in 1947 in Ohio, Mooney got his BA from Quincy University in 1970 and then joined his family business, Mooney Chemicals, in 1971. Founded by his father in 1946, the company that specialized in the creation of metal carboxylates for industrial uses. The younger Mooney served in various positions throughout the company beginning in 1971, with an eye towards taking over for his father.  In 1975 he became president and CEO for the company, which was a privately held company at the time.

As President, he led the company through growth and changes in his industry of industrial metals and finishing powders for industrial uses. He also took the company through the paces of a merger with Finnish metals company Outokumpa Chemicals. A third company, Vasset SA, became part of the merger and the company was renamed the OM Group. Within a few years the company went public on the NASDAQ and then the New York Stock Exchange, using the capital infusion to go on a buying expedition of acquiring companies.

Following the move to the NYSE, Mooney began to acquire companies that he hoped would expand the markets his company could compete in as well as expanding manufacturing and marketing capabilities for the entire company.  The first of these was the 1996 acquisition of SCM Metal Products for $122, who at the time were the world’s largest manufacturers of copper powders. In 1997, OM Group made two additional acquisitions. The first was Fidelity Chemical, which made parts for motherboard and data storage devices, and then the privately held Auric Corporation, a producer of electroplating chemical and metal concentrates.

Later, in 2001, an additional acquisition of Degussa Metals Catalyst Cerdex gave the company advantages in new markets for the company, including automotive catalysts, electroplating, emission control devices, fuel cells, jewelry, metals trading and technical materials.  By this time, the OM Group had offices in over fifty countries on all five continents and a work force of around 1400 people, most of whom were involved in either the manufacturer or marketing of the company’s products.

In November of 2002, problems arose when the company saw a significant drop in stock value from $30 per share to $6.50. There were two issues to this loss in value. One, there was a steep decline in the value of cobalt, which led to a decrease in the value of OM Group’s inventory of cobalt, and two, there was an unexpected decrease in sales to the Department of Defense Logistics Agency.  This called for another restructuring of the company, which Mooney led, but the writing was on the wall for the CEO that came from a family run privately held company that a publicly owned company operated differently.

After the decline in the company’s stock value in 2002, Mooney divided the company into three separate business units, Nickel, Cobalt and Precious Metals as part of a restructuring plan. But Mooney had to report in April of 2003 that the net loss of the previous year had been $327.9 million. It took some time, but ultimately Mooney was relieved of his position as President, chairman and CEO in January of 2005. 

The latest news of the OM Group is that in June of 2015, OM Group agreed to be privatized by Apollo Global Management who made an offer of around $1.03 billion in cash. It is unclear if James P. Mooney is still involved with the company, which now enjoys assets of $2.5 billion

  1. Chemicals Industry ETF

    An exchange-traded fund that invests in manufacturers of chemicals. ...
  2. Leo F. Mullin

    Best known for serving as the former CEO and chairman of Delta ...
  3. E. Linn Draper Jr.

    A former chairman, CEO and president of Ohio-based public utility ...
  4. Morris Chang

    The founder, chairman and CEO of Taiwan Semiconductor Manufacturing ...
  5. William Dillard II

    The son of the founder and former chairman of Little Rock-based ...
  6. Alston D. Correll

    A former CEO and chairman of Atlanta-based paper and building ...
Related Articles
  1. Investing

    KeyCorp Beats Expectations for Revenues, Earnings

    KeyCorp saw higher profits, rising loan activity and greater demand for financial services in the fourth quarter.
  2. Investing

    Taking a Closer Look at Chemical Companies

    The chemical sector may be painted with an outdated brush there might be a lot more opportunity here than many investors realize.
  3. Personal Finance

    The 10 Richest Women In Finance

    Who are the top 10 women in the financial industry?
  4. Investing

    Industry At A Glance – Specialty Chemicals

    Speciality chemical companies have been beaten down too far on growth concerns.
  5. Investing

    Dow Chemical Stock Trades Ex-Dividend Wednesday

    Dow Chemical will send its dividend payment on April 28 to shareholders of record as of March 31.
  6. Investing

    How the Dow-DuPont Merger Affects Dividends (DOW)

    The impending merger between Dow Chemicals and DuPont could mean good things for both companies in future.
  7. Investing

    Oragenics AG013 Drug Gets Fast Track Status (OGEN)

    Oragenics’ key drug AG013 secured Fast Track designation from the FDA for oral mucositis.
  8. Insights

    Grit: PAGES

    Vanguard Chairman and CEO Bill McNabb shares his favorite books.
  9. Insights

    Retirement Money for Ex-Presidents: How Much Will Obama Get?

    Last year, the federal government spent a total of $3.25 million on the four former presidents still living.
  10. Insights

    The Presidential Resume

    When making your way to the White House, there are some definite resume must-haves.
  1. Which segments of the chemicals sector have the highest profit margins?

    Explore the wide-ranging chemicals sector and learn which of the five segments of the chemicals sector typically have the ... Read Answer >>
  2. What are the most common ETFs that track the chemicals sector?

    Learn more about the chemical industry and opportunities presented to investors by chemical sector ETFs and materials companies ... Read Answer >>
  3. What types of industries are the main consumers of the products of the chemicals ...

    Learn about industries that use products manufactured by chemical companies. Explore common materials used and produced by ... Read Answer >>
  4. What are the main products and developments of the chemicals industry?

    Learn about the main products of the chemicals industry and how technological developments and the availability of raw materials ... Read Answer >>
Hot Definitions
  1. Capital Asset Pricing Model - CAPM

    Capital Asset Pricing Model (CAPM) is a model that describes the relationship between risk and expected return and that is ...
  2. Return On Equity - ROE

    The profitability returned in direct relation to shareholders' investments is called the return on equity.
  3. Working Capital

    Working capital, also known as net working capital is a measure of a company's liquidity and operational efficiency.
  4. Bond

    A bond is a fixed income investment in which an investor loans money to an entity (corporate or governmental) that borrows ...
  5. Compound Annual Growth Rate - CAGR

    The Compound Annual Growth Rate (CAGR) is the mean annual growth rate of an investment over a specified period of time longer ...
  6. Net Present Value - NPV

    Net Present Value (NPV) is the difference between the present value of cash inflows and the present value of cash outflows ...
Trading Center