Brad Allen to head investor relations for 3M spinoff Imation.ST. PAUL, Minn.--(BUSINESS WIRE)--May 23, 1996--Imation Corp., the information-processing company 3M plans to spin off on July 1, Thursday announced the appointment of Brad Allen as director of investor relations Investor relations The process by which the corporation communicates with its investors. . Previously, Allen headed investor relations at Cray Research in Eagan, Minn., and at Massachusetts-based Digital Equipment Corp. ``Imation is aggressively building a new, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. ,'' said William T. Monahan, chief executive officer of Imation. ``Brad's tested leadership in financial communications will be invaluable as we reach out to shareholders.'' Allen, 45, is chairman of the National Investor Relations Institute The National Investor Relations Institute, known as "NIRI", is the professional association for investor relations professionals in the United States. NIRI was founded in 1969 and has more than 4,500 members, both from the United States and other countries. (NIRI NIRI National Investor Relations Institute NIRI Nutrition Intervention Research Initiative (Mississippi) NIRI Near Infrared Imager NIRI National Institute on Recreation Inclusion NIRI New Ideas Research Institute ), a professional association of 3,000 investor- relations professionals. He frequently speaks on crisis communications, corporate governance and investor relations, and has taught investor relations in the graduate school of management at Northeastern University in Boston. A graduate of Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. , Allen received advanced degrees in journalism from Boston University and in finance from Boston College. He resides in Minneapolis with his wife, Roberta Freedman Allen, and their two children. Imation is expected to be listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the trading symbol IMN IMN Iraqi Media Network IMN Indicated Mach Number IMN Inter Member Network IMN Infectious Mononucleosis IMN Invisible Moose Network (website) IMN Illegal Macro Name IMN Internet Marketing Newsletter , and is scheduled for a 1-for-10 distribution to 3M shareholders, effective July 1. When launched, Imation will be a leader in supplying a wide variety of products and services worldwide for the information- processing industry, specializing in data-storage and imaging applications. Imation has headquarters in Oakdale, Minn. Its products will be sold in more than 60 countries, with sales of $2.25 billion, based on 1995 revenues of the businesses included in the spinoff. -0- NOTE TO EDITORS: This news release, and other media information related to Imation, is available on the company's Web site (http://www.imation.com). CONTACT: Imation Corp., St. Paul Will Sullivan, 612/733-4429 |
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