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OMG Names Richard W. Blackburn to Board of Directors

Published on 2005-09-01. Author : SpecialChem

CLEVELAND -- OM Group, Inc. (NYSE: OMG) announced that Richard W. Blackburn has been named a director of the company, effective immediately. Blackburn, (63), joins the director class that will stand for re-election in 2006.

"We are thrilled to add Dick Blackburn to our board," said Joseph Scaminace, chairman and chief executive officer. "Dick's broad business background and experience in developing growth strategies will be critical to our success moving forward."

The addition of Blackburn increases OMG's board to five directors. "We intend to continue expanding this strong nucleus of directors to a full-slate of nine to eleven directors as soon as practical," Scaminace said.

Blackburn spent approximately 30 years in the telecommunications industry, ultimately serving as the president and group executive of NYNEX Worldwide Communications and Media Group. He retired in 2004 from Duke Energy Corporation as the company's executive vice president, general counsel and chief administrative officer after a seven-year tenure with the diversified energy company.

A native of Michigan, Blackburn earned his undergraduate degree from Michigan State University and his law degree from George Washington Law School in Washington, D.C. He currently chairs the board of advisors for George Washington Law School and is a trustee of the Massachusetts Eye and Ear Infirmary in Boston, as well as George Washington University.

ABOUT OM GROUP, INC.

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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