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Ashland names Cappeline vice president
COVINGTON, Kentucky (December 3, 2002) -- Gary A. Cappeline, 53, has been named vice president, Ashland Inc. (NYSE: ASH), and president, Ashland Specialty Chemical according to James J. O'Brien, Ashland Inc. chairman and chief executive officer. The appointment will be effective December 4.
Cappeline replaces James A. Duquin, a 32-year veteran, who announced his
retirement on Nov. 25.
"A former Ashland executive, Gary returns to us extremely well qualified in chemical markets, strategic planning, financial management, operations, and business development," said O'Brien. "Gary and I share the same strategic view for Ashland Specialty Chemical: to be a high performance organization by strengthening our position in our chosen markets. As Gary rejoins Ashland, he will bring with him valuable experience from Bear Stearns Merchant Bank, Allied Signal, and Engelhard Corp.," O'Brien concluded. Cappeline first joined Ashland Inc. in 1974 working in various positions of increasing responsibility until he was named a group vice president in the specialty chemicals business in 1993. He was responsible for significant growth of Ashland Specialty Chemical. In 1997, Cappeline left Ashland to join Engelhard Corp., where he served as Group Vice President, Pigments and Additives. He was subsequently named president of AlliedSignal Specialty Chemicals, where he worked for Allied Signal's Chairman and CEO, Larry Bossidy. Most recently, he has worked as a chemical industry partner at Bear Stearns Merchant Bank. A native of New York, Cappeline earned a bachelor's degree in chemical engineering from the City College of New York in 1972, and a master's degree in 1977 from the same institution. Cappeline is a 1988 graduate of the executive development program at the Indiana University School of Business, and he is a 1995 graduate of the advanced management program and international senior management program at the Harvard Business School. Cappeline is a past member of the board of directors of the American Chemistry Council, a member of the American Institute of Chemical Engineers, and served on trusts for the New Jersey Independent College Fund and Mercer University in Macon, Ga. Ashland Inc. 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