Corning Announces Retirement, Election of General Counsel
CORNING, N.Y., May 23, 2013 – Corning Incorporated (NYSE: GLW) announced today that Lewis A. Steverson, 49, will join the company as senior vice president and general counsel in June, following his formal election to these roles by the company’s board of directors. Steverson will succeed Vincent P. Hatton, who will retire in August. Steverson will report to Wendell P. Weeks, chairman, chief executive officer and president.
Hatton’s retirement follows seven years as general counsel and more than 32 years in Corning’s legal department. He joined Corning in 1981 as an assistant corporate counsel. He was named general counsel in February, 2006.
“Vince Hatton has been an outstanding general counsel for Corning,” Weeks said. “He steered the company through myriad changes in financial reporting, disclosure rules and international regulatory rules impacting the company’s business globalization. We are indebted to Vince for his dedication to the long-term success of the company.”
“We welcome Lewis Steverson to Corning as our new senior vice president and general counsel. He brings extensive knowledge in the fast moving innovative technology market through his work at Motorola, and it should prove valuable to Corning in the future,” Weeks remarked.
Steverson comes to the general counsel role with 18 years of experience at Motorola Inc. and Motorola Solutions, Inc. He has served as senior vice president, general counsel and secretary to the board of Motorola Solutions, Inc., since January 2011 when Motorola spun off its Mobility business and changed its name to Motorola Solutions. With Motorola, he served in numerous roles as division counsel, senior counsel, vice president, corporate vice president, and senior vice president. He joined Motorola in 1995 after four years as a litigation associate with Arnold & Porter in Denver, Colo. and Washington, DC.
Steverson graduated summa cum laude with a bachelor’s degree from Siena College and a J.D. from Harvard Law School. He is a member of the Illinois and Colorado bar associations; the 10th Circuit U.S. Court; and the District of Columbia Courts of Appeals.
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 Incorporated (www.corning.com) is the world leader in specialty glass and ceramics. Drawing on more than 160 years of materials science and process engineering knowledge, Corning creates and makes keystone components that enable high-technology systems for consumer electronics, mobile emissions control, telecommunications and life sciences. Our products include glass substrates for LCD televisions, computer monitors and laptops; ceramic substrates and filters for mobile emission control systems; optical fiber, cable, hardware & equipment for telecommunications networks; optical biosensors for drug discovery; and other advanced optics and specialty glass solutions for a number of industries including semiconductor, aerospace, defense, astronomy, and metrology.
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