Corning Incorporated (NYSE: GLW) today announced that Kirk P. Gregg, 55, executive vice president and chief administrative officer, will retire at the end of 2015.
Lisa Ferrero, 51, currently general manager, Corning Display Technologies, will succeed Gregg as senior vice president and chief administrative officer, effective Jan. 1, 2016. Ferrero will join the company’s management committee.
Gregg has been with Corning for 22 years, joining in 1993 as director of executive compensation. In 2002, he was named chief administrative officer and was responsible for establishing a highly effective corporate infrastructure group to deliver high-quality support services for the company’s business organizations. He also has been a civic leader across the Corning community and New York State. He serves as chairman of the board for Three Rivers Development Corporation and is a trustee of the Corning Foundation, and oversees Corning Enterprises.
He has served as a past chairman for the New York State Business Council and was awarded the group’s highest honor, The Corning Award of Excellence in 2012. Gregg has been a long-time volunteer for Boy Scout’s USA and in 2010 received the Three Rivers Council Distinguished Citizen Award.
“Kirk Gregg has been an instrumental member of Corning’s management committee for more than a dozen years. He has been a leader in driving quality and performance improvement across the corporate center, and has worked tirelessly to improve the quality of life in our local community and across New York State. I thank Kirk for his service and his dedication. He will be missed,” Wendell P. Weeks, chairman, chief executive officer, and president, said.
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 (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.