Owens-Illinois names interim joint CEOs

The board of directors of Owens-Illinois, Inc. announced 5 December 2003 the appointment of Terry L. Wilkison and Thomas L. Young as Interim co-Chief Executive Officers of the company, to take office …

The board of directors of Owens-Illinois, Inc. announced 5 December 2003 the appointment of Terry L. Wilkison and Thomas L. Young as Interim co-Chief Executive Officers of the company, to take office when Joseph H. Lemieux, the current CEO, retires at the end of 2003. Mr. Wilkison is the Executive Vice President and General Manager of the Plastics Group and Mr. Young is the Executive Vice President and Chief Financial Officer of the company. Mr. Lemieux advised the board in July of his plans to retire as of 31 December 2003. He will remain Chairman of the company. The board is continuing its search for a permanent CEO. Mr. Lemieux, 72, has worked for Owens-Illinois for 46 years. He became CEO in 1990 and Chairman in 1991. Both Terry Wilkison and Thomas Young are long-time executives of Owens-Illinois. Mr. Wilkison, 62, joined the company in 1963. Prior to heading the Plastics Group, he served from 1998 to 2000 as Executive Vice President of Latin American Operations, after spending four years heading the company“s Domestic Packaging Operations. Mr. Young, 59, joined the legal department of Owens-Illinois in 1976. He has since served in a variety of senior administrative positions, including ten years as General Counsel before becoming CFO in March 2003. He is a director of the company. Mr. Young also is a director of Manor Care, Inc.. Mr. Young will continue to serve as the Chief Financial Officer of the company. Mr. Lemieux said, “Having spent nearly a half-century at Owens-Illinois, I am pleased to be retiring when the company is in a strong position. We are very fortunate that Terry and Tom, both highly experienced executives who have made enormous contributions to Owens-Illinois, have agreed to share the chief executive responsibilities until my permanent successor is appointed. I feel confident that the combination of their operating and administrative expertise positions the company well while the board continues to search for an executive who can best lead Owens-Illinois into the future. As Chairman, I will work to ensure a smooth transition to the new management.”