BRECKSVILLE, Ohio, April 17 /PRNewswire/ -- PMD Group Inc., formerly
BFGoodrich Performance Materials, announced today that its president, David B.
Price, Jr., has decided to leave the company to pursue other professional and
business opportunities. Effective immediately, Steven J. Demetriou, PMD Group
Inc. chief executive officer, will assume all of Price's responsibilities.
In making the announcement, Demetriou said "Under David Price's
leadership, BFGoodrich Performance Materials experienced significant growth.
He demonstrated innovation, vision and commitment to all of our stakeholders,
including our employees, customers, investors and neighbors. David also
provided valuable leadership in the sale of BFGoodrich Performance Materials
to the parent holding group of PMD Group Inc. and played a substantial role in
assisting PMD Group to secure financing to complete the purchase."
Price joined The BFGoodrich Company in 1997 as an executive vice president
of the company and president and chief operating officer of its specialty
chemicals businesses. He became president of PMD Group Inc. when the company
began operating independently on February 28, 2001.
Demetriou joined PMD Group Inc. on March 15, 2001 as the company's chief
executive officer and member of its Board of Directors. He came to the
company from IMC Global Inc., a $2.5 billion company, where he most recently
served as executive vice president and president of IMC Crop Nutrients, a
$2 billion revenue business unit.
PMD Group Inc. is a leading global producer and marketer of
technologically advanced specialty chemicals for a broad range of consumer and
industrial applications. For the year ended December 31, 2000, PMD Group Inc.
generated pro forma sales of approximately $1.2 billion. The company was
formed as an independent entity on February 28, 2001, when an investor group
led by AEA Investors Inc., and including an affiliate of DLJ Merchant Banking
Partners and DB Capital Partners, Inc., acquired the Performance Materials
business from BFGoodrich.
SOURCE PMD Group Inc.
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CONTACT:
Joel Ross of PMD Group Inc., 216-447-5732, or
fax, 216-447-6542, or e-mail, rossjoel@brk.bfg.com
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