CLEVELAND, Dec 15, 2009 (BUSINESS WIRE) -- Ferro Corporation (NYSE: FOE) (the "Company") today announced that the Board of Directors (the "Board") took action to increase the number of directors to thirteen directors and voted to elect Richard C. Brown, Gregory E. Hyland and Ronald P. Vargo as directors of the Company, effective immediately, to fill the vacancies on the Board created by the increase in the number of directors.
Messrs. Brown and Hyland will serve with the class of directors with a term that ends at the 2010 Annual Meeting of Shareholders and Mr. Vargo will serve with the class of directors with a term that ends at the 2011 Annual Meeting of Shareholders.
Mr. Brown currently serves as the Chief Executive Officer of Performance Fibers, a global leader in high-performance industrial fibers and related materials. Prior to joining Performance Fibers, Mr. Brown was Vice President and President of the Performance Chemicals Business of W.R. Grace & Co. from 2005 until 2007. Prior to his position with W.R. Grace & Co., Mr. Brown served as the President & Global Business Unit Leader of GE Advanced Materials and Silicones for General Electric Company from 2003 until 2005.
Mr. Hyland currently serves as Chairman, President and Chief Executive Officer of Mueller Water Products, Inc. (NYSE: MWA). Prior to joining Mueller Water Products, Inc., Mr. Hyland served as Chairman, President and Chief Executive Officer of Walter Industries, Inc. from September 2005 until December 2006. Prior to that time, Mr. Hyland served as President, U.S. Fleet Management Solutions of Ryder System, Inc. from June 2005 to September 2005. He served as Executive Vice President, U.S. Fleet Management Solutions of Ryder from October 2004 to June 2005.
Mr. Vargo most recently served as the Executive Vice President and Chief Financial Officer of Electronic Data Systems ("EDS") and served as a member of EDS' Executive Committee. Mr. Vargo joined EDS in 2004 as Vice President and Treasurer and was promoted to Co-Chief Financial Officer in March 2006. Before joining EDS, Vargo served as Corporate Treasurer and Vice President of Investor Relations at TRW Inc., now part of Northrop Grumman, until 2003.
About Ferro Corporation
Ferro Corporation (www.ferro.com) is a leading global supplier of technology-based performance materials for manufacturers. Ferro materials enhance the performance of products in a variety of end markets, including electronics, solar energy, telecommunications, pharmaceuticals, building and renovation, appliances, automotive, household furnishings, and industrial products.
Headquartered in Cleveland, Ohio, the Company has approximately 5,400 employees globally and reported 2008 sales of $2.2 billion.