KMG Founder & Chairman David Hatcher To Retire
David Hatcher, 69, Chairman of the Board of KMG Chemicals, is intending to retire as a Director in December 2012.
This will be at the conclusion of his current term. So he will not stand for nomination as a Director of the company at the upcoming Annual Meeting of Shareholders.
Hatcher has served KMG as a Director for 25 years.
Hatcher founded KMG in 1985, and served as CEO of the company until 2007.
In recognition of his many contributions to KMG, the Board of Directors will appoint Hatcher as Chairman Emeritus of the Board upon his retirement.
After the Annual Meeting of Shareholders in December, the Board will select KMG's next Chairman.
The Board members intend to select Christopher Fraser, 54, a current KMG Board member, to fill that position. He has been nominated with the support of David Hatcher and KMG's current Board members.
Commenting on Hatcher's retirement, Neal Butler, President and CEO of KMG, says, "I am honoured to say that David's vision, leadership and drive were essential in creating the KMG of today. KMG's core values "“ centred on safety, integrity, reliability and efficiency "“ reflect David's values and will continue to fuel KMG's success in the years to come. All of us at KMG sincerely thank David for his many years of dedication to KMG and wish him the best in his well-earned retirement."
Hatcher comments, "While difficult to announce retirement from the company I have been a part of for so many years, I look forward to spending more time with family and friends. I have full confidence that KMG will continue to thrive in the years ahead, and I remain very supportive of KMG, the company's leadership and its growth strategy." David Hatcher plans to remain a prominent shareholder of KMG.
KMG Electronic Chemicals, Inc., supplies acids, solvents and other chemicals used in the manufacture of semiconductors primarily from its facility in Pueblo, Colorado. Customers use these products to etch and clean the wafer at each production layer.
In Europe, its wholly owned subsidiary, KMG Italia S.r.l., operates from a manufacturing and warehouse facility near Milan, Italy.
