Industry News

Eastman Board Elects New Member, Declares Dividend

Published on 2007-08-03. Author : SpecialChem

KINGSPORT, Tenn., -- The board of directors of Eastman Chemical Company has elected Gary E. Anderson as a director. Anderson, 62, is retired chairman of the board of directors of Dow Corning, a global leader in silicon-based technology and innovation.

"We are pleased to have Gary join Eastman's board," said Brian Ferguson, chairman and CEO. "Gary is known as a leader in innovation and new product development in the chemical industry, and his work to move Dow Corning forward is widely recognized. I have no doubt that his broad experience will be a valuable asset to our board." Anderson will serve in the class of directors for which the term in office expires at Eastman's annual meeting of stockholders in May 2010.

Anderson joined Dow Corning in 1967 and spent his career in various assignments including product development, process development, and manufacturing and process engineering leadership positions. From 1983 to 1984 he took a leave of absence to serve as acting deputy assistant secretary for Basic Industries in the Department of Commerce under Ronald Reagan's presidency, where he focused mainly on international trade problems and reducing the size of government. He was elected President of Dow Corning in 1994 and CEO in 1999, and elected chairman of the board in March 2001. Anderson retired from Dow Corning in 2004.

Anderson graduated from Michigan Technological University with a bachelor's degree in chemical engineering and a master's degree in business administration from Central Michigan University.

About Eastman

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world's largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2006 sales of $7.5 billion and approximately 11,000 employees.

Source: Eastman Chemical Company

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