Ed Dineen, TPC Group
Ed Dineen leads with experience, which has taught him this: “Don’t accept the status quo; constantly look at how it can be done better.”
Dineen took the helm of TPC Group in January as chairman, president and CEO. But it was his many years in other leadership positions that prepared him for the role and allowed for a smooth transition.
Dineen has bachelor’s and master’s degrees in chemical engineering from the Cooper Union for the Advancement of Science and Art, and Princeton University, respectively. He also holds a master’s in engineering management from Drexel University. Now an industry veteran with more than 35 years of petrochemical and energy experience, Dineen started his professional career in environmental engineering with ARCO Chemical in Philadelphia where he held positions in planning, procurement and business management. He has held senior leadership positions at both large public companies and privately held entrepreneurial ventures, including chief operating officer of LyondellBasell as well as president of its $20 billion global chemicals division. He also served as CEO of biodiesel company LS9 Inc. and most recently Siluria Technologies, a venture-funded catalyst and technology company.
“I have been fortunate to have a wide breadth of opportunities that collectively led to my current role as chairman, president and CEO of TPC Group,” said Dineen. “Given my experiences and background, the transition into my role at TPC Group has moved very fast; it is a natural progression from my previous positions.”
By its nature, the position is one that includes a large number of all-encompassing responsibilities.
“One day may have a commercial focus with customer meetings, while the next day it might be operational with plant visits,” explained Dineen. “On another day, it may be supplier strategy or financial planning.
“I think the skill sets fall in two buckets: one is specific experience in the petrochemicals and fuels industries and in the breadth of functional areas; the second is more generic to the CEO position — leadership, creativity, analytical and broad communication skills.
“A combination of these skills lets me address both challenges and opportunities.”
Stepping up to challenges
Headquartered in Houston, TPC Group is a leader in providing highly specialized lines of chemical products to major chemical and petroleum-based companies worldwide. As North America’s largest producer of finished butadiene and the largest producer of butene-1, TPC is a dependable supplier of hydrocarbon processing and other specialty chemicals for companies around the globe.
The company is the sole merchant producer of highly reactive polyisobutylene in North America and the largest merchant producer by production capacity in butadiene and butane-1 in North America. TPC Group is also the third largest merchant producer by production capacity of methyl tert-butyl ether (MTBE) and isobutylene in North America. Its products are sold into a wide range of performance, specialty and intermediate segments, including synthetic rubber, fuel additives, plastics and surfactants.
TPC Group employs more than 750 full-time employees and contractors across all locations, including manufacturing facilities in the industrial corridor adjacent to the Houston Ship Channel. In addition, the company operates facilities in Port Neches and Baytown, Texas, as well as a product terminal in Lake Charles, Louisiana.
“We are more narrow but are leaders in our specific businesses,” explained Dineen. “Our team is more nimble, more responsive.
“Right now, the state of the industry is mixed; fuels are challenged by current commodity prices. Petrochemicals are generally more positive. We have put broad plans in place to successfully manage through current market challenges. In five to 10 years, we will be broader, stronger, more profitable and potentially a more global company.
“We need to continue to improve our cost position and enhance our reliability to continuously improve our competitive position. In our polyisobutylene business, we continue to build on our strong technology position.
“As I like to say, ‘Never underestimate the ability for people to step up to challenges.’”
Collaboration efforts
Fundamental to TPC Group’s operations is its commitment to safe, reliable and environmentally responsible operations.
“In order to be a good neighbor, we know we must be accountable to our neighbors for how we do business and conduct our operations,” said Dineen.
A solid community investment philosophy centers on the company’s collaboration efforts on key initiatives aligned with civic sustainability; environment; education; and health, humanity and wellness programs.
“Education and developing a strong and qualified pipeline of talent for our industry’s future is central to TPC Group’s Mark of Excellence Scholarship Program,” explained Dineen.
The scholarship program provides educational assistance to qualified graduating seniors planning to pursue a four-year academic degree or two-year certification in engineering, chemistry, environmental science or education at an accredited college or university. Since 2006, TPC Group has awarded nearly $650,000 in academic scholarships as part of the Mark of Excellence Scholarship Program.
Another primary community investment initiative is the TPC Group Annual Charity Golf Tournament. The tournament has raised more than $550,000 for local nonprofit organizations, including Cossaboom Family YMCA in Houston’s east end; the Eddie V. Gray Wetlands Education and Recreation Center in Baytown; Memorial Hermann Foundation in Houston; Julie Rogers Gift of Life Program in Beaumont, Texas; and The Estelle and Allen Fetters Center in Groves, Texas.
Dineen also serves on industry boards that collectively advocate on behalf of the industry as well as sponsor and promote community outreach and support.
‘Proud of the key role we play’
While at ARCO Chemical, Dineen implemented an MTBE strategy that led to the signing of long-term A-B-C contracts that drove substantially improved and sustained profitability.
“Collectively, this strategy added more than $1 billion of additional value versus a standard market price approach,” he explained.
He aims to achieve similar success for TPC Group.
“I want to achieve significant value creation for our owners and employees, solidifying our central position in the petrochemical industry,” he said. “The industry always has new challenges. It requires a lot of analysis and creativity, which is intellectually stimulating for me.
“Our industry’s products are critical to many, many aspects of improving human life on this planet. And our industry will continue to have an important global role.
“At TPC Group, I am proud of the role we play in the U.S. petrochemical industry.”
For more information, visit www.tpcgroup.com or call (713) 627-7474.
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