Eastman Chemical Company (NYSE:EMN) today announced that Richard A. Lorraine has been named the 2007 Senior Financial Officer (SFO) of the Year by Chemical Week magazine in the publication's August 22, 2007 issue.
Chemical Week's annual SFO of the Year award is given to an individual who has made an outstanding contribution to businesses in the chemical industry in North America through vision and leadership, corporate reporting and performance, social responsibility, innovation, and global competitiveness. An independent committee composed of Chemical Week editors and industry analysts choose the winner.
"Rich has always shown outstanding financial leadership, superb judgment and impeccable management skills since he joined the company in 2003," said Brian Ferguson, Eastman chairman and CEO. "His expertise has been instrumental to Eastman's continued position as a leader in our industry, and it is fitting that he is recognized for his significant role in the company's success. On behalf of the Board of Directors and Eastman's employees, I congratulate him on this award and well-deserved recognition."
Rob Westervelt, editor in chief of Chemical Week commented, "This award is recognition of what Mr. Lorraine has accomplished as the Chief Financial Officer at Eastman. He is seen by his peers and others in the chemical industry as being a leader and a great asset to Eastman."
Lorraine was honored for his contributions to Eastman and the industry at Chemical Week's 12th Annual Senior Financial Officer Meeting held on August 7, 2007, in New York City.
Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world's largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. As a Responsible Care® company, Eastman is committed to achieving the highest standards of health, safety, environmental and security performance. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2006 sales of $7.5 billion and approximately 11,000 employees. For more information about Eastman and its products, visit www.eastman.com.
