Concurrently, the company announced that the Owens-Illinois board of directors has elected R.Scott Trumbull, executive vice president, to the position of chief financial officer, succeeding Mr. Van Hooser.
Joseph H. Lemieux, Owens-Illinois chairman and chief executive officer, said, "Throughout his long career with Owens-Illinois, Dave Van Hooser has made many outstanding contributions to our company. We wish Dave the best of success as he assumes his new CEO responsibilities and we look forward to our continued association with him through the participation of Harbor Capital Advisors in our pension and 401(k) plans."
A former subsidiary of Owens-Illinois, Harbor Capital Advisors continues to serve as the adviser to the pension funds of Owens-Illinois and is the adviser to the Harbor Fund family of mutual funds, which are available to Owens-Illinois employees through the company's 401(k) plans. After Mr. Van Hooser assumes his full-time responsibilities with Harbor Capital Advisors, he also will provide consulting services to Owens-Illinois on a transitional basis. Harbor Capital Advisors is located in the Owens-Illinois world headquarters building at One SeaGate in Toledo.
Mr. Lemieux said, "We are very pleased that Scott Trumbull will assume the very important responsibilities of chief financial officer. Scott is extremely well qualified to direct our continuing efforts to improve cash flow and financial flexibility. In his 29 years of service with Owens-Illinois, Scott has extensive experience with development and implementation of corporate strategy and with our glass container and plastics packaging operations, both in the United States and overseas." Mr. Trumbull, 53, has served as executive vice president – international operations and corporate development, since 1998. The transition of his current responsibilities will be announced at a later date. Mr. Trumbull joined Owens-Illinois in 1972 and was elected a vice president of the company in 1986. He became director of corporate planning in 1992 and was named executive vice president - international operations, in 1993. Mr. Trumbull received a bachelor of arts degree in economics from Denison University in 1970, and an MBA degree from Harvard Business School in 1972.
Mr. Van Hooser said, "I am very pleased to have the opportunity to assume the chief executive assignment with Harbor Capital Advisors. I am grateful for the opportunity to have served with Owens-Illinois, which is an excellent company with a great future. I look forward to a continuing association with Owens- Illinois through my role with Harbor Capital Advisors." The Harbor Capital Advisors businesses were purchased from Owens-Illinois this past June by Robeco Groep N.V. Robeco Groep is based in the Netherlands and is one of the world's largest third-party asset managers. Prior to the transaction, Mr. Van Hooser had played an increasingly active role in the management of Harbor Capital Advisors, which was among his areas of responsibility as chief financial officer of Owens-Illinois. In 2000, Mr. Van Hooser became chairman of the board of trustees of Harbor Capital Advisors and also became a director of its HCA Securities, Inc. and Harbor Transfer, Inc. subsidiaries.
Mr. Van Hooser, 55, has served as senior vice president and chief financial officer since 1998. He joined Owens-Illinois in 1972 and was elected a vice president of the company in 1988. He was appointed senior vice president and director of corporate strategy in 1996. Mr. Van Hooser received a bachelor of arts degree from Michigan State University in 1968, and an MBA degree from the University of Michigan in 1972.