Quaker Chemical Corporation Announces Resignation Of CFO And Appointment Of
CONSHOHOCKEN, Pa., June 27, 2012
CONSHOHOCKEN, Pa., June 27, 2012 /PRNewswire/ -- Quaker Chemical Corporation
(NYSE: KWR) announced that Mark A. Featherstone resigned from his position as
Vice President, Chief Financial Officer and Treasurer of Quaker, effective
June 27, 2012, in order to pursue other career opportunities. Mr.
Featherstone's departure does not result from any disagreement with Quaker on
any matter relating to Quaker's operations, policies or practices.
Commenting on Mr. Featherstone's resignation, Michael F. Barry, Quaker's
Chairman, Chief Executive Officer and President stated, "On behalf of everyone
at Quaker, I thank Mark for his contributions during his tenure as CFO during
which Quaker has grown to an almost $700 million global company. We wish Mark
well in all of his future endeavors."
In addition, the Company announced that Ms. Margaret M. (Margo) Loebl was
elected by the Board of Directors as Quaker's Vice President, Chief Financial
Officer and Treasurer, effective June 29, 2012. Ms. Loebl is a seasoned
global financial executive with over 25 years of experience and a proven
record of success. In 2011, Ms. Loebl consulted in Paris for Constellium, a
leader in the manufacturing of high-quality aluminum products and solutions,
where she provided senior executive-level financial consulting services. From
2008 through 2010, Ms. Loebl was the Corporate Vice President, Chief Financial
Officer and Treasurer of TechTeam Global, a publicly held provider of
information technology outsourcing and business process outsourcing services.
From 2002 through 2007, Ms. Loebl was the Group Vice President, Finance at
Archer Daniels Midland Company, one of the world's leading agricultural
processors. Prior to that, Ms. Loebl held various senior financial executive
positions within Nike and General Motors. Ms. Loebl has direct experience in
all relevant financial disciplines, including international corporate finance,
treasury, accounting and control, business planning and analysis, tax, risk
management, corporate development/M&A, and investor relations.
Mr. Barry stated, "I am pleased to welcome Margo to Quaker. She brings
outstanding qualifications and experience in all aspects of finance to the
Company. I am confident she will be a tremendous asset and strategic partner
to our businesses and our leadership team as we continue to grow our global
company both organically and through acquisitions."
Ms. Loebl earned a Bachelor of Arts from Wellesley College and a Masters of
Business Administration from the University of Chicago Booth School of
Business. She has transacted significant business with numerous
counterparties in all regions of the world. Ms. Loebl has also lived, either
studying in college or working, for a total of approximately 10 years outside
the U.S. in Germany, Mexico, Canada, Brazil and France, learning the German,
Spanish and Portuguese languages.
This release contains forward-looking statements that are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those projected in such statements. A major risk is that the Company's
demand is largely derived from the demand for its customers' products, which
subjects the Company to downturns in a customer's business and unanticipated
customer production shutdowns. Other major risks and uncertainties include,
but are not limited to, significant increases in raw material costs, customer
financial stability, worldwide economic and political conditions, foreign
currency fluctuations, and future terrorist attacks such as those that
occurred on September 11, 2001. Other factors could also adversely affect us.
Therefore, we caution you not to place undue reliance on our forward-looking
statements. This discussion is provided as permitted by the Private
Securities Litigation Reform Act of 1995.
Quaker Chemical Corporation is a leading global provider of process chemicals,
chemical specialties, services, and technical expertise to a wide range of
industries - including steel, aluminum, automotive, mining, aerospace, tube
and pipe, coatings, and construction materials. Our products, technical
solutions, and chemical management services enhance our customers' processes,
improve their product quality, and lower their costs. Quaker's headquarters is
located near Philadelphia in Conshohocken, Pennsylvania.
SOURCE Quaker Chemical Corporation
Contact: D. Jeffry Benoliel, Vice President - Global Metalworking and Fluid
Power and Corporate Secretary, +1-610-832-7850
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