LORD Corporation Announces New President and CEO

CARY, N.C., Aug. 21, 2012 /PRNewswire/ --

News Facts:

1. Rick McNeel of LORD Corporation, has announced his retirement, effective Dec. 31, 2012.
2. McNeel will remain as chairman of the LORD Board of Directors.
3. Ed Auslander has been named president and CEO of LORD Corporation, effective Jan. 1, 2013.

LORD Corporation has announced that Rick McNeel, chairman, president and CEO, will retire as president and CEO of the company, effective Dec. 31, 2012. McNeel will remain as chairman of the LORD Board of Directors, where he will continue to provide leadership and support to LORD regarding its strategic plan and company direction.

Ed Auslander has been named McNeel's successor and will assume the role of president and CEO of LORD Corporation, effective Jan. 1, 2013. Auslander was appointed vice president, Global Business Management, in 2010. He is currently responsible for the company's profit and loss, capital management, capacity planning, product strategy, and project prioritization.

"It has been my pleasure and privilege over the past 10 years to have worked with what I feel is the finest employee organization," said McNeel. "Through innovation, skill, hard work, and dedication, LORD has earned a well-deserved reputation as the best solutions provider in our industry. It has been an honor, with the support of the LORD Board of Directors and the officer team, to help lead this great company. I leave LORD under strong leadership that will ensure the company continues to thrive."

Over the past 10 years, LORD has expanded globally, and continues to commercialize innovative solutions to increase the value of its customers' products. Currently poised for additional sales and profit growth, the company has more than doubled in sales during the past decade.

"During Rick's tenure at LORD, we have become a unified and globalized company," said Auslander. "As a result of his leadership, LORD has entered into new markets, developed new business models, and improved our manufacturing and business processes, among various additional accomplishments. My goal as president and CEO is to properly follow in Rick's footsteps, sustaining what he built, while positioning the company for further growth and success."

McNeel joined LORD in 2002, following his role as group vice president for BP Amoco Chemical in London. With more than 40 years of experience in the chemical industry, he has also held a variety of roles with Amoco Chemical and Amoco Corporation. McNeel serves on the Board of Directors of the U.S. Chamber of Commerce and the Board of Governors of the Aerospace Industries Association, among others. He was most recently named Chairman of the 2012 United Way Campaign for the Triangle region of North Carolina.

Auslander began his career at LORD in 1984 as part of the student Co-op program. Over the past 28 years, he has held various managerial positions in the aerospace, industrial and chemical products groups, including two overseas assignments in France and England. Prior to his current role, Auslander served as global business director, Elastomer Process Materials and global business director, Aerospace Parts & Assemblies and Electro-Mechanical Systems. Auslander is an active participant in the Aerospace Industries Association.

About LORD Corporation:

With global reach and extensive technical capabilities, LORD has the ability to work on complex formulations, balancing contradictory property and process requirements to deliver the solutions that meet customer and market demands. LORD builds on its more than 85 year history with a track record of successful long-term partnerships with technology leaders in industries ranging from aerospace to automotive, electronics to industrial heavy equipment.  

Founded in 1924, LORD Corporation is a privately-held company that designs, manufactures and markets mechanical devices and electromechanical systems to control vibration, motion and noise; formulates, produces and sells general purpose and specialty adhesives, coatings and electronic materials; and develops products and systems utilizing magnetically responsive technologies. With global headquarters in Cary, N.C., and sales in excess of $789MM, LORD has manufacturing facilities in eight countries and more than 90 sales and support centers. LORD Corporation employs more than 2,900 worldwide. Visit www.lord.com for more information.

Media Contacts: 
Gibbs & Soell Public Relations
Jill Mastrangelo, +1 919 870 5718, extension 3169 or [email protected]

SOURCE LORD Corporation