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Acuity Brands Reports Resignation of Chief Financial Officer; Bastian to Return to Delta Air Lines, Inc.


ATLANTA -- Acuity Brands Acuity Brands, Inc., through its subsidiaries, engages in the design, production, and distribution of lighting equipment and specialty products worldwide. The company was founded in 2001 and is based in Atlanta, Georgia. , Inc. (NYSE NYSE

See: New York Stock Exchange
: AYI AYI Academy of Young Investors ) announced today that Edward H. Bastian has resigned from his position as Senior Vice President and Chief Financial Officer of Acuity Brands to return to Delta Air Lines, Inc. as Executive Vice President and Chief Financial Officer. Acuity Brands will commence a search for a Chief Financial Officer to succeed Mr. Bastian. Karen J. Holcom, Vice President and Controller, will serve as Interim Chief Financial Officer until a permanent replacement is identified.

Mr. Bastian commented, "While my time with Acuity Brands has been short, it has reinforced the tremendous potential I saw prior to joining the Company. I will miss working with the Company's leadership and employees, but I am confident Acuity Brands will be successful in accomplishing its goal of becoming a high performance organization. Given my history with Delta, the opportunity to help lead the company in its transformation was simply too appealing to pass up."

"While I am disappointed about Ed's decision to leave Acuity Brands," said Vernon J. Nagel, Chairman and Chief Executive Officer, "I wish him well in his new role at Delta. Ed is a talented financial executive who would have had a positive impact on the bright future of our Company."

Acuity Brands, Inc., with fiscal year 2004 net sales Net Sales

The amount a seller receives from the buyer after costs associated with the sale are deducted.

Notes:
This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight
 of over $2.1 billion, is comprised of Acuity Brands Lighting and Acuity acuity /acu·i·ty/ (ah-ku´i-te) clarity or clearness, especially of vision.

a·cu·i·ty
n.
Sharpness, clearness, and distinctness of perception or vision.
 Specialty Products. Acuity Brands Lighting is one of the world's leading providers of lighting fixtures and includes brands such as Lithonia Lighting(R), Holophane(R), Peerless(R), Hydrel(R), American Electric Lighting(R), and Gotham(R). Acuity Specialty Products is a leading provider of specialty chemicals and includes brands such as Zep(R), Zep Commercial(TM), Enforcer(R), and Selig(TM). Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 10,000 people and has operations throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere.  and in Europe and Asia.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 20, 2005
Words:309
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