Georgia Gulf (ticker: GGC, exchange: New York Stock Exchange (.N))
News Release -
Georgia Gulf Elects Two New Board Members Board Member John Bryan Retires; Board Member Ruth Dreessen Resigns
ATLANTA, June 10, 2003 - The board of directors of Georgia Gulf Corporation (NYSE:
GGC) announced today the election of two new board members, Charles L. ("Jerry")
Henry, chairman and chief executive officer, Johns Manville Corporation, and Yoshi
Kawashima, president, YK Resources. The board also announced today the retirement
of John D. Bryan and the resignation of Ruth I. Dreessen from the board.
Mr. Henry is currently chairman and chief executive officer, Johns Manville
Corporation. Prior to this position, he worked for E.I.Dupont de Nemours and Company
in several capacities including executive vice president and chief financial officer. Mr.
Henry currently serves on the board of Lennox, International.
Mr. Kawashima is currently president, YK Resources, and has served as a
consultant for companies including DIC Imaging Products USA, Inc., DIC International
USA, Inc., and the Chemical Division, Mitsui & Co. (USA), Inc. From 1999 to 2002, he
was chairman and chief executive officer, Reichhold, Inc. Mr. Kawashima currently
holds board positions with Mitsui USA Foundation, Walter Hoving Home and Texas
Mr. Bryan served as a director of Georgia Gulf from its inception in 1985 and was
vice president, operations, from January 1985 until his retirement in December 1989.
Ms. Dreessen served as a director of Georgia Gulf since September 2001. Prior
to joining the board, she was a managing director with JP Morgan Chase & Co. Ms.
Dreessen has resigned in order to accept the position of chief financial officer of
"We welcome our two new directors, Jerry Henry and Yoshi Kawashima, and are
confident we have found strong leaders with excellent experience to join our board,"
said Edward Schmitt, chairman, president and chief executive officer, Georgia Gulf
"While we look forward to working with the new board members, we are sad to
lose two respected members, John Bryan and Ruth Dreessen. John, one of the
founders of Georgia Gulf Corporation, is an outstanding leader and personal friend. His
leadership was instrumental to the growth of our company, and we appreciate his time
and commitment to Georgia Gulf over the last 18 years. In addition, we appreciate Ruth
Dreessen's dedication to our board over the past two years. Her contributions were
Georgia Gulf, headquartered in Atlanta, is a major manufacturer and marketer of
two integrated product lines, chlorovinyls and aromatics. Georgia Gulf's
chlorovinyl products include chlorine, caustic soda, vinyl chloride monomer and vinyl
resins and compounds. Georgia Gulf's primary aromatic products include cumene,
phenol and acetone.
This news release contains forward-looking statements subject to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management's assumptions regarding
business conditions, and actual results may be materially different. Risks and
uncertainties inherent in these assumptions include, but are not limited to, future global
economic conditions, economic conditions in the industries to which the company sells,
industry production capacity, raw material costs and other factors discussed in the
Securities and Exchange Commission filings of Georgia Gulf Corporation, including our
annual report on Form 10-K for the year ended December 31, 2002.