Eastman Announces Management Teams for New Companies

07-Jun-2001

As it continues to pursue a plan to become two independent public companies by the end of 2001 by creating and spinning off a new specialty chemicals and plastics company to be named Eastman Company, Eastman Chemical Company today announced two senior management retirements and the members of the senior management teams for the new companies.

Earnest W. Deavenport, Jr., chairman and CEO, announced that Dr. James L. Chitwood, 58, will continue to serve as senior vice president, corporate strategy, chief technology officer and transition team member until Dec. 31, 2001, at which time he will retire. Garland S. Williamson, 57, senior vice president, worldwide operations and chief health, safety and environmental officer, will also continue with his current responsibilities until Dec. 31, 2001, at which time he will retire.

"Both Jim and Buddy have served Eastman well over their long careers," said Deavenport. "During his 33 years with Eastman, Jim led our research and development organization as well as served in many other strategic positions. Buddy, who has 34 years of service, has ensured that our plants around the world have produced quality product in a safe environment, and he has made significant contributions in leading our worldwide cost reduction efforts. We very much appreciate the contributions these two executives have made to Eastman." Deavenport, 63, has previously announced plans to also retire at the end of 2001.

J. Brian Ferguson, currently president of Eastman's chemicals group who will become CEO of Eastman Company, announced the following members of that company's senior management team effective upon completion of the spin-off:

Betty W. DeVinney, 56, senior vice president, human resources, communications and public affairs. Theresa K. Lee, 48, senior vice president, general counsel and corporate secretary. Roger K. Mowen, Jr., 55, senior vice president, responsible for eIS/eBusiness, marketing/sales processes, corporate strategy and business research, regional leadership and special growth initiatives. James P. Rogers, 50, chief operating officer and chief financial officer, responsible for financial functions, site and shared operations, and supply chain.

Ferguson had previously announced the following senior management appointments for Eastman Company effective upon completion of the spin-off:

Keith T. Gockenbach, 45, vice president and general manager, performance chemicals and intermediates. Dr. Phillip D. Griswold, 53, vice president and general manager, specialty plastics. Bruce E. Moore, 61, vice president, coatings, adhesives, special polymers and inks integration projects. Dr. Gregory O. Nelson, 49, vice president and chief technology officer, responsible for corporate technology issues; specialty plastics technology; and coatings, adhesives, specialty polymers and inks technology. Dr. David M. Pond, 58, vice president, responsible for performance chemicals and intermediates technology and technology support services. Francois T. Vleugels, 52, vice president and general manager, coatings, adhesives, specialty polymers, and inks.

Allan R. Rothwell, currently president of Eastman's polymers group who will become CEO of the to-be-named PET plastics and acetate fibers company, announced the following members of that company's senior management team effective upon completion of the spin-off:

David E. Cotey, 44, vice president, general counsel and corporate secretary. Richard L. Johnson, 52, group vice president, fibers. B. Fielding Rolston, 60, senior vice president, human resources, communications and public affairs. Thomas A. Smith, 57, group vice president, PET and polyethylene, also responsible for corporate technology. Albert J. Wargo, 47, vice president, chief financial officer and treasurer.

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