William Joyce Resigns
2003年10月6日 - 10:52PM
RNSを含む英国規制内ニュース (英語)
RNS Number:5679Q
Hercules Inc
06 October 2003
Release Immediately
03-23-S
WILLIAM JOYCE RESIGNS FROM HERCULES; BOARD CONDUCTING CEO SEARCH
JOHN WULFF NAMED CHAIRMAN;
CRAIG ROGERSON NAMED ACTING PRESIDENT AND COO
WILMINGTON, DE, OCTOBER 6, 2003 . . . Hercules Incorporated (NYSE: HPC) today
announced that Dr. William H. Joyce has resigned from the Company and its Board
of Directors. Dr. Joyce informed the Board that he intends to accept another
executive position in the industry. He has served as Chairman and Chief
Executive Officer since mid-2001.
The Board has elected outside director John K. Wulff Chairman of the Board. He
most recently served as a member of the Financial Accounting Standards Board
(FASB) and previously was Chief Financial Officer of Union Carbide Corporation.
The Board also named Craig A. Rogerson acting President and Chief Operating
Officer. Since April 2002, Mr. Rogerson has been President of Hercules'
FiberVisions and Pinova divisions and Corporate Vice President of Global
Procurement. He was previously Vice President and General Manager of
BetzDearborn and earlier served as President and CEO of Wacker Silicones
Corporation.
The Board has begun a CEO search, and will be assisted in the process by Spencer
Stuart. The search will consider internal as well as external candidates.
Joe B. Wyatt an outside director and Chairman of the Corporate Governance,
Nominating and Ethics Committee said, "The Board will conduct a thorough search
assisted by a leading executive recruiting firm to find the person best
qualified to lead Hercules in taking full advantage of its excellent market
position. The Board extends its sincere thanks to Bill Joyce for his successful
efforts to turn Hercules around over the past two years."
Mr. Wulff said, "Bill was the right leader during a very challenging time for
Hercules. We now have the opportunity to build on the strong platform that is in
place. As we conduct the search, Craig Rogerson and our outstanding executive
team will ensure that the company does not miss a beat."
Dr. Joyce said, "I am very proud of the accomplishments of the people of
Hercules over the past two years. It has been an honor to be part of the team
that successfully turned the Company around and established a solid foundation
for its future. I am confident that the management team and people of Hercules
will continue to grow, strengthen, and improve the Company."
# # #
Hercules manufactures and markets chemical specialties globally for making a
variety of products for home, office and industrial markets. For more
information, visit the Hercules website at www.herc.com.
This news release includes forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995, reflecting current analysis and
expectations, based on what are believed to be reasonable assumptions.
Forward-looking statements may involve known and unknown risks, uncertainties
and other factors, which may cause the actual results to differ materially from
those projected, stated or implied, depending on such factors as: ability to
generate cash, ability to raise capital, ability to refinance, the result of the
pursuit of strategic alternatives, ability to execute work process redesign and
reduce costs, business climate, business performance, economic and competitive
uncertainties, higher manufacturing costs, reduced level of customer orders,
changes in strategies, risks in developing new products and technologies,
environmental and safety regulations and clean-up costs, foreign exchange rates,
the impact of changes in the value of pension fund assets and liabilities,
changes in generally accepted accounting principles, adverse legal and
regulatory developments, including increases in the number or financial
exposures of claims, lawsuits, settlements or judgments, or the inability to
eliminate or reduce such financial exposures by collecting indemnity payments
from insurers, the impact of increased accruals and reserves for such exposures,
and adverse changes in economic and political climates around the world,
including terrorist activities and international hostilities. Accordingly, there
can be no assurance that the Company will meet future results, performance or
achievements expressed or implied by such forward-looking statements. As
appropriate, additional factors are contained in reports filed by the Company
with the Securities and Exchange Commission. This paragraph is included to
provide safe harbor for forward-looking statements, which are not generally
required to be publicly revised as circumstances change, and which the Company
does not intend to update.
Media Contact: John S. Riley (302) 594-6025
Investor Contact: Allen A. Spizzo (302) 594-6491
This information is provided by RNS
The company news service from the London Stock Exchange
END
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