Innospec Announces Retirement of Dr. Bob Bew and Appointment of Milton Blackmore as New Chairman
27 Février 2012 - 2:30PM
Innospec Inc. (Nasdaq:IOSP) today announced the appointment of
Milton C "Bud" Blackmore as Chairman of the Company's Board of
Directors effective as of May 9, 2012. Mr. Blackmore has been on
the Board of Directors of Innospec since June 2010 and will take up
the role of Chairman at the Annual Meeting in May, succeeding Dr.
Bob Bew, who is retiring from the Board at that time.
"Since joining the Board, Bud has made a real contribution to
our business" said Patrick Williams, President and Chief Executive
Officer of Innospec. "His extensive experience in the oil
refining and fuel marketing industry and his broad business
understanding will be invaluable to us as we take the Company into
our next phase of growth. I would like to thank Bob for his
leadership and commitment to the Company. He has made a
significant contribution to the development of Innospec since his
appointment as Chairman in 1998 and we wish him well for the
future."
Mr. Blackmore said, "As Chairman, Bob has successfully led the
Company through a period of substantial change and Innospec today
is a thriving Specialty Chemicals company with outstanding
technology and an excellent management team. Innospec has a
clear strategy and an exciting future and has demonstrated its
ability to deliver results. I am very pleased to take on the role
of Chairman and I am looking forward to leading the Company while
working with my fellow Directors as well as with Patrick and the
executive team."
Dr. Bew commented, "I have thoroughly enjoyed my involvement
with Innospec over the last 13 years as Chairman. The Company
has been transformed over that time and has a very bright
future. It is now well positioned for further significant
growth and I feel the time is right to hand over to a new Chairman
to take on that task."
About Innospec Inc.
Innospec Inc. is an international specialty chemicals company
with approximately 850 employees in 20 countries. Innospec
manufactures and supplies a wide range of specialty chemicals to
markets in the Americas, Europe, the Middle East, Africa and
Asia-Pacific. Innospec's Fuel Specialties business specializes
in manufacturing and supplying the fuel additives that help improve
fuel efficiency, boost engine performance and reduce harmful
emissions. Innospec's Active Chemicals business provides effective
technology-based solutions for our customers' processes or products
focused in the Personal Care; Household, Industrial &
Institutional; and Fragrance Ingredients markets. Innospec's Octane
Additives business is the world's only producer of tetra ethyl
lead.
Forward-Looking Statements
This press release contains certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical
facts included or incorporated herein may constitute
forward-looking statements. Such forward-looking statements include
statements (covered by words like "expects", "anticipates", "may",
"believes" or similar words or expressions), for example, which
relate to operating performance, events or developments that we
expect or anticipate will or may occur in the future (including,
without limitation, any of the Company's guidance in respect of
sales, gross margins, pension liabilities and charges, net income,
growth potential and other measures of financial
performance). Although forward-looking statements are believed
by management to be reasonable when made, caution should be
exercised not to place undue reliance on such statements because
they are subject to certain risks, uncertainties and assumptions,
including in respect of the general business environment,
regulatory actions or changes. If the risks or uncertainties
materialize or assumptions prove incorrect or change, our actual
performance or results may differ materially from those expressed
or implied by such forward-looking statements and
assumptions. Additional information regarding risks,
uncertainties and assumptions relating to the Company and affecting
our business operations and prospects are described in the
Company's Annual Report on Form 10-K for the year ended December
31, 2011 and other reports filed with the U.S. Securities and
Exchange Commission. You are urged to carefully review and
consider the cautionary statements and other disclosures made in
those filings, including specifically those under the heading "Risk
Factors". The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
For more information about Innospec, please visit our website at
www.innospecinc.com.
CONTACT: Brian Watt
Innospec Inc.
+44-151-356-6241
Brian.Watt@innospecinc.com
Robert Ferris
RF|Binder Partners
+1-212-994-7505
Robert.ferris@rfbinder.com
Dan Scorpio
RF|Binder Partners
+1-212-994-7609
dan.scorpio@rfbinder.com
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