Corning Announces Series of Management Promotions
July 21 2015 - 4:25PM
McRae elected vice chairman
Tripeny elected chief financial
officer
Evenson elected chief strategy
officer
CORNING, N.Y. - Corning
Incorporated (NYSE: GLW) announced today that Lawrence D. McRae has
been elected vice chairman and corporate development officer
effective immediately; R. Tony Tripeny has been elected senior vice
president and chief financial officer effective Sept. 1, 2015; and
Dr. Jeffrey W. Evenson has been elected senior vice president and
chief strategy officer effective immediately.
All three are members of the company's management
committee and will report to Wendell P. Weeks, chairman, chief
executive officer and president.
McRae, 57, who joined Corning in 1985, will
continue to lead the company's corporate development function,
focusing on strategic approaches to business development including
mergers and acquisitions. McRae led the negotiations leading to a
strategic collaboration agreement between Corning and Samsung
Display Co., Ltd., which included Corning's full ownership of
Samsung Corning Precision Materials, Co., Ltd. He also assumes
responsibility for the management of the Chief Executive Officer's
office. He has served as a member of the company's management
committee since 2006.
McRae received his bachelor's degree in accounting
from Morgan State University and a master's degree in business
administration from Harvard University. He serves on the board of
directors of the Dow Corning Corporation, Samsung Corning Advanced
Glass, LLC, and the Corning Foundation.
Tripeny, 56, joined Corning in 1985 as a corporate
accounting manager in the company's telecommunications business
segment. He held numerous operational and divisional control roles
in his early career. Tripeny became a member of Corning's executive
leadership team in 2011 and the management committee in 2014. He
has served as vice president and corporate controller since 2005
and was elected senior vice president, corporate controller and
principal accounting officer in 2009. In his new role as chief
financial officer, he will oversee the finance and investor
relations functions. He has played a significant role in
developing the company's current growth strategy, executing its
merger and acquisition transactions, and advising the company on
investor relations initiatives.
Tripeny received a bachelor's degree in economics
from the University of Pennsylvania's Wharton School of Business.
He is a member of the Financial Executives Institute and the
Institute of Management Accounting. Tripeny is on the board of
Hardinge Inc.
Evenson, 49, joined Corning in 2011 as senior vice
president and operations chief of staff. In his new role as chief
strategy officer, he will oversee the corporate strategy and
corporate communications functions and a new center of excellence
for advanced analytics. Prior to joining Corning, Evenson was a
senior vice president and senior analyst at Sanford C. Bernstein,
and was a partner at McKinsey & Company where he led technology
and market assessments for early-stage technologies.
Evenson has a Ph.D. in physics from Harvard
University and a bachelor's degree in physics from the
Massachusetts Institute of Technology. He serves as a trustee at
the Corning Museum of Glass and the Corning Foundation. He is also
a member of the board of directors of View, Inc.
Forward-Looking and Cautionary
Statements
This press release contains "forward-looking statements" (within
the meaning of the Private Securities Litigation Reform Act of
1995), which are based on current expectations and assumptions
about Corning's financial results and business operations, that
involve substantial risks and uncertainties that could cause actual
results to differ materially. These risks and uncertainties
include: the effect of global political, economic and business
conditions; conditions in the financial and credit
markets; currency fluctuations; tax rates; product demand
and industry capacity; competition; reliance on a concentrated
customer base; manufacturing efficiencies; cost reductions;
availability of critical components and materials; new product
commercialization; pricing fluctuations and changes in
the mix of sales between premium and non-premium products; new
plant start-up or restructuring costs; possible
disruption in commercial activities due to terrorist activity,
armed conflict, political or financial instability, natural
disasters, adverse weather conditions, or major health concerns;
adequacy of insurance; equity company activities; acquisition and
divestiture activities; the level of excess or obsolete inventory;
the rate of technology change; the ability to enforce patents;
product and components performance issues; retention of key
personnel; stock price fluctuations; and adverse litigation or
regulatory developments. These and other risk factors
are detailed in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only as
of the day that they are made, and Corning undertakes no obligation
to update them in light of new information or future events.
About Corning
Incorporated
Corning (www.corning.com) is one of the world's leading innovators
in materials science. For more than 160 years, Corning has applied
its unparalleled expertise in specialty glass, ceramics, and
optical physics to develop products that have created new
industries and transformed people's lives. Corning succeeds through
sustained investment in R&D, a unique combination of material
and process innovation, and close collaboration with customers to
solve tough technology challenges. Corning's businesses and markets
are constantly evolving. Today, Corning's products enable diverse
industries such as consumer electronics, telecommunications,
transportation, and life sciences. They include damage-resistant
cover glass for smartphones and tablets; precision glass for
advanced displays; optical fiber, wireless technologies, and
connectivity solutions for high-speed communications networks;
trusted products that accelerate drug discovery and manufacturing;
and emissions-control products for cars, trucks, and off-road
vehicles.
Media Relations
Contact:
Daniel F. Collins
(607)
974-4197
collinsdf@corning.com
Investor Relations
Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com
View Images: Lawrence D.
McRae | Tony Tripeny | Dr. Jeffrey W. Evenson
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This
announcement is distributed by NASDAQ OMX Corporate Solutions on
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corning Incorporated via Globenewswire
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