Compass Minerals Names Michael E. Ducey President and CEO, Succeeding Robert F. Clark, Who is Retiring.Business Editors OVERLAND PARK, Kan.--(BUSINESS WIRE)--March 20, 2002 Michael E. Ducey, most recently President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Borden Chemical, was named today as President and CEO of Compass Minerals Group, Inc., the world's third-largest producer of salt. He succeeds Robert F. Clark, 59, who is retiring but who will remain a director. Mr. Ducey, 53, will join Compass on April 1, 2002. Mr. Ducey has approximately 30 years of broad-based general management and operating experience in the chemical industry with Borden, a $1.4 billion diversified chemical company. He previously held the positions of Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Executive Vice President of Borden Chemical and, prior to that, Director of Sales and Marketing and Director of Planning and Commercial Development at Forest Products, N.A. "We are very fortunate to have a seasoned executive with Mike's abilities to lead our senior management team," said Mr. Clark. "As President of Borden, he led a Core Leadership Team that stressed continuous improvement and open communications, integrity, respect for people and customer satisfaction to drive business performance. He is the perfect choice for this position and I am confident he will provide the strong support and direction that will enable Compass Minerals to realize its full potential." Mr. Ducey graduated in 1970 with a Bachelor of Arts degree from Otterbein College, Westerville, Ohio, and in 1980 received an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the University of Dayton The University of Dayton is one of the ten largest Catholic schools in the United States and is the largest of the three Marianist universities in the nation. It is also home to one of the largest campus ministry programs in the world. . Mr. Clark has been President and CEO of Compass Minerals, an affiliate of Apollo Management, L.P., since its acquisition last November from IMC (Internet Mail Consortium, Santa Cruz, CA, www.imc.org) An industry trade association founded in 1996 by Paul Hoffman and Dave Crocker that promotes Internet e-mail standards and features. Global. Previously, he was President of IMC Salt from 1998, and President of Great Salt Lake Minerals Corporation from 1993 to 1998. Compass Minerals Group salt operations are located in the United States (North American Salt Company), Canada (SIFTO Canada, Inc.) and the United Kingdom (Salt Union Ltd.). The company also is the largest producer of the specialty crop nutrient, sulfate sulfate, chemical compound containing the sulfate (SO4) radical. Sulfates are salts or esters of sulfuric acid, H2SO4, formed by replacing one or both of the hydrogens with a metal (e.g., sodium) or a radical (e.g., ammonium or ethyl). of potash (SOP), in the Americas through its Great Salt Lake Minerals Corporation subsidiary in Ogden, Utah. Compass serves a broad range of customers and industries including highway maintenance operations, agriculture, retail sales and the chemical industry. Net sales of the Group for the twelve months ending September 2001 were $398.1 million with pro forma EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become of $118.9 million. |
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