Innospec Inc. Announces Demise of Joachim Roeser, Director; Announces Board Changes
April 28, 2020 at 02:18 pm EDT
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Innospec Inc. deeply saddened to inform that director Joachim Roeser passed away on April 26, 2020. At the time of his passing, Mr. Roeser was a member of the Audit Committee and Chair of the Compensation Committee of the Board of Directors.
To reflect the passing of Mr. Roeser, the Board has reallocated committee assignments as follows: Mr. Milton Blackmore has joined the Audit Committee as a member, and Mr. Padfield has assumed position as Chair of the Compensation Committee. Effective immediately following the adjournment of the 2020 annual meeting of stockholders, the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee members will be as follows: The Audit Committee members will be: Mr. David F. Landless (Chair), Mr. Milton C. Blackmore, and Mr. Lawrence J. Padfield. The Board has determined that all Audit Committee members possess the required level of financial literacy and are independent for the purposes of the Securities Exchange Act of 1934, as amended and Nasdaq rules. The Board has determined that Mr. Landless qualifies as an Audit Committee Financial Expert, as such term is defined in Securities and Exchange Commission rules, and meets the standard for financial knowledge and sophistication required by Nasdaq. The Compensation Committee will be: Mr. Lawrence J. Padfield (Chair) and Mr. Milton C. Blackmore. The Nominating and Governance Committee will be: Ms. Claudia Poccia (Chair) and Mr. David F. Landless.
Innospec Inc. develops, manufactures, blends, markets and supplies a wide range of specialty chemicals to customers in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Company operates through three segments: Performance Chemicals, Fuel Specialties and Oilfield Services. The Companyâs Performance Chemicals business creates technology-based solutions for the personal care, home care, agrochemical, construction, mining, and other industrial markets. This segment serves multinational companies, manufacturers of personal care and home care products and global mining, agricultural and building products and other industrial companies. The Companyâs Fuel Specialties segment develops, manufactures, blends, markets and supplies a range of specialty chemical products used as additives in diesel, jet, marine, fuel oil and other fuels. The Companyâs Oilfield Services business supplies drilling, completion and production chemicals.