Industry News

OM Group Names Valerie Gentile Sachs Vice President, General Counsel and Corporate Secretary

Published on 2005-09-14. Author : SpecialChem

CLEVELAND -- OM Group (NYSE: OMG) announced that it has named Valerie Gentile Sachs as its vice president, general counsel and corporate secretary, reporting to Joseph Scaminace, the company's chairman and chief executive officer. The company has relied on outside legal counsel for the past two years and anticipates improved efficiencies and focus with the appointment of Sachs.

"Today, we've added a critical component to the company's senior management team," said Scaminace. "Valerie is a seasoned general counsel who brings not only a keen business acumen, but vast experience in managing the legal affairs and governance practices of an international public company."

Sachs, 50, comes to OM Group from Jo-Ann Stores, Inc. (NYSE: JAS), a $1.8 billion national retailer, where she has served as the company's executive vice president, general counsel and secretary since 2003.

Prior to joining Jo-Ann Stores, Sachs was general counsel of Marconi plc, an international telecommunications conglomerate headquartered in London. From 1997 to 1999, she served as vice president, general counsel and secretary of Reltec Corporation, which through a merger became part of Marconi.

Earlier in her career, Sachs spent nine years in the legal department of the former M.A. Hanna Company, a specialty chemical company, where her last position was senior associate counsel. She began her career as an associate with the law firm of Arter & Hadden and later was with the law firm of Baker Hostetler for five years.

Sachs earned her J.D. from Case Western Reserve University School of Law and received her B.L.S. in chemistry with honors from Bowling Green State University.


OM Group is a leading, vertically integrated international producer and marketer of value-added, metal-based specialty chemicals and related materials. Headquartered in Cleveland, Ohio, OM Group operates manufacturing facilities in the Americas, Europe, Asia, Africa and Australia.

Forward-Looking Statements

This report contains statements that the Company believes may be "forward- looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not historical facts and generally can be identified by use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee" or other words or phrases of similar import. Similarly, statements that describe the Company's objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that are difficult to predict, may be beyond the Company's control and could cause actual results to differ materially from those currently anticipated.

Important factors that may affect the Company's expectations, estimates or projections include: the completion of the settlements of the shareholder class action and derivative lawsuits filed against the Company, certain of its executives and its directors in a manner that is consistent with the definite agreement and agreement in principle reached with the lead plaintiffs in such lawsuits; the speed and sustainability of price changes in cobalt and nickel; the potential for lower of cost or market write-downs of the carrying value of inventory necessitated by decreases in the market prices of cobalt and nickel; the availability of competitively priced supplies of raw materials, particularly cobalt and nickel; the effect of the Company's inability to meet the SEC and NYSE filing obligations on a timely basis upon funding availability under the Company's credit facilities or upon debt obligations outstanding; the effect of the Company not completing the documentation and testing of its internal controls over financial reporting such that management of the Company and its independent registered public accounting firm are unable to report as to such internal control over financial reporting; the risk that new or modified internal controls, implemented in response to the 2004 investigation by the audit committee of the Company's board of directors and the Company's examination of its internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act, are not effective and need to be improved, resulting in additional expense; the demand for metal-based specialty chemicals and products in the Company's markets; the effect of fluctuations in currency exchange rates on the Company's international operations; the effect of non-currency risks of investing and conducting operations in foreign countries, including political, social, economic and regulatory factors; the outcome of the previously announced SEC Division of Enforcement review of the investigation conducted by the Company's audit committee; and the general level of global economic activity and demand for the Company's products.

Source: OM Group, Inc.

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