Koppers Inc. Board Elects
New Member, Honors Founder;
Robert K. Wagner Becomes Permanent
Chairman Emeritus
Februarty 25, 2000, Pittsburgh, Pennsylvania — Koppers
Inc. has announced the election of a new member to its board of
directors and an honorary designation for its former chairman.
At the company's annual board meeting on February
23, 2000, Robert K. Wagner, 68, was honored for his founding influence
and faithful
service to Koppers by adding a "permanent" designation
to his title of Chairman Emeritus. At the same time, Mr. Wagner
stepped down as Director of Koppers.
Mr. Wagner has been a Director
of Koppers from its formation in December 1988 and was Chairman
of the Board from November 1994
to July 1999. At that time, he was replaced as Chairman of the
Board by Robert Cizik, former Chairman, President and Chief Executive
Officer of Cooper Industries, Inc., but Wagner remained a Director
until this year.
In addition to his board service, Mr. Wagner
served as CEO of Koppers from the company's founding until his
retirement
in February, 1996.
Mr. Wagner said his decision to leave the Koppers
board completes an orderly management succession process that included
the naming
of Mr. Cizik as Chairman and the earlier appointment of Walter
W. Turner as President and Chief Executive Officer.
"
I have had the pleasure to work for the Koppers family for some
43 years and I am well satisfied with the completion of our management
succession plans," Mr. Wagner said.
In addition to granting Mr. Wagner permanent status as Chairman
Emeritus, Koppers announced that the Board elected Praveen R. Jeyarajah
as a Director. He replaces Director Charles P. Durkin, Jr. who
did not stand for re-election to the Board.
Mr. Jeyarajah is a
Principal of Saratoga Partners, the majority shareholder of Koppers.
He was graduated from Rutgers University
in 1990 with a B.A. and received his MBA from the Wharton School
at the University of Pennsylvania in 1995.
In addition to his service
as Koppers Director, Mr. Jeyarajah is on the boards of directors
for J&W Holdings Corporation and
Wireless Services Holding Corporation and has additional portfolio
responsibilities at Saratoga Partners for USI Insurance Services
Corporation.
Koppers is a global integrated producer of carbon
compounds and treated wood products for use in a variety of markets
including
the railroad, aluminum, chemical and steel industries. The Company
operates 22 facilities in the United States and an additional 13
facilities in the South Pacific (primarily Australia and New Zealand).
The Company also maintains indirect ownership interests in an additional
facility in the United States through its domestic joint venture
KSA and in four facilities overseas (one in Denmark and three in
the United Kingdom) through its Danish joint venture Tarconord
A/S. Additionally, in March 1999, the Company entered into a joint
venture agreement with Tangshan Iron & Steel Co. ("TISCO")
to rehabilitate and operate a tar distillation facility in China;
the joint venture will be 60% owned by the Company. The Company's
stock is shared by a large number of employee investors and by
majority equity owner, Saratoga Partners of New York City. |
