Great Lakes Names John J. Gallagher CFO

07-May-2001

Great Lakes Chemical Corporation (NYSE:GLK) today announced that John J. Gallagher III, formerly Vice President and Chief Financial Officer for UOP LLC, has been named Senior Vice President / Chief Financial Officer of Great Lakes Chemical Corporation, effective May 21, 2001.

Mark Bulriss, Great Lakes' Chairman, President and CEO, noted that Gallagher's diverse financial background and leadership skills make him an especially good fit for Great Lakes. "In addition to his experience as CFO for a billion dollar, multi-national corporation, John brings an exceptionally broad background in financial management, mergers and acquisitions, as well as strategic business analysis and planning. Equally important, he is as adept at external communications as he is driving internal growth and productivity initiatives. John will be a very strong asset to Great Lakes."

Gallagher comes to Great Lakes from UOP LLC, a $1.1 billion global joint venture of the Dow Chemical Company and Honeywell International, and the world's leading licensor of petroleum refining and certain petrochemical processes. He joined UOP in 1999 as Vice President / CFO.

He served in a number of positions of increasing responsibility at AlliedSignal, Inc., now Honeywell International. Most recently Gallagher was Vice President Finance and Business Development, Bendix Commercial Vehicle Systems. Prior to that, he had responsibilities for all of AlliedSignal as Director, Business Analysis and Planning, and previously, Director, Finance Mergers and Acquisitions. He also spent nine years at Price Waterhouse LLP as a management consultant on numerous M&A transactions, both in the U.S. and around the world.

Gallagher is a CPA and holds a BS in Accounting from the University of Delaware.

This press release contains forward-looking statements involving risks and uncertainties that affect the company's operations as discussed in Great Lakes Chemical Corporation's Annual Report on Form 10-K filed with the Securities and Exchange Commission. Accordingly, there is no assurance the company's expectations will be realized.

Great Lakes Chemical Corporation is the world's leading producer of various specialty chemicals for such applications as flame retardants, polymer stabilizers, fire extinguishants, water treatment, as well as a growing line of performance and fine chemicals for the life sciences industry. The stock of the company is traded on the New York Stock Exchange.

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