BOSTON--(BUSINESS WIRE)--Dec. 2, 2015--
Cabot Corporation today announced that President and Chief Executive
Officer Patrick M. Prevost will take a temporary medical leave of
absence, and expects to return to the Company in January 2016. While Mr.
Prevost is on leave to recover from the effects of a minor stroke,
Cabot’s Board of Directors has established an Interim Office of the
Chief Executive Officer (“CEO Office”), which will report to the Board
of Directors. The CEO Office is comprised of Eduardo E. Cordeiro,
Executive Vice President and Chief Financial Officer, and President,
Americas and EMEA Regions; Brian A. Berube, Senior Vice President and
General Counsel; Sean D. Keohane, Executive Vice President and
President, Reinforcement Materials Segment; and Nicholas S. Cross,
Executive Vice President and President, Performance Chemicals and
Specialty Fluids Segments. During Mr. Prevost’s leave, he intends to
engage with the CEO Office and Cabot’s Board of Directors.
John F. O’Brien, Cabot’s Non-Executive Chairman of the Board, speaking
on behalf of the Board of Directors said, “Patrick has the full support
of the Board and we wish him a speedy recovery.” Mr. O’Brien added,
“While Patrick is recovering, I will be working closely with the CEO
Office. We are fortunate to have this group of talented and experienced
executive leaders. I am confident that they will ensure the continued
execution of the operational objectives that have been set for fiscal
2016 as well as the Company’s strategic initiatives.”
“It is in Cabot’s best interest, and mine, that I focus on my health
during my leave of absence,” Prevost commented. “I look forward to fully
re-engaging with the business in the near future.”
ABOUT CABOT CORPORATION
Corporation (NYSE: CBT) is a global specialty chemicals and
performance materials company, headquartered in Boston, Massachusetts.
The company is a leading provider of rubber
formate drilling fluids, fumed
silica, and aerogel.
For more information on Cabot, please visit the company’s website at: http://www.cabotcorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: Statements in the press release regarding Cabot's business that
are not historical facts are forward looking statements that involve
risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward looking statements, see “Risk Factors” in the
Company’s Annual Report on Form 10-K.
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Source: Cabot Corporation