Reorganization at GenCorp focused on strategies for future growth.FAIRLAWN Fairlawn is the name of several places in the United States of America:
tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. which is focused on further efficiency and performance improvements and accelerating plans for value-creating growth, the Company's highest priority. As the first of several steps in the strategic realignment, GenCorp GenCorp is an American technology-based manufacturer. Established in 1915, GenCorp was formerly the General Tire & Rubber Company. The name change was implemented in 1984 when GenCorp was formed as a parent holding company for General Tire's various businesses. initiated a Voluntary Early Retirement Incentive Program in January for eligible employees at its Fairlawn headquarters office and at its Corporate Technology Center (CTC CTC - Cornell Theory Center ) in Akron. Approximately 40% of the employees at the headquarters office and the CTC are eligible for this Program. Eligible employees have until March 1, 1996 to make their election. Additional steps in the realignment include the elimination of the Office of the Chief Executive. Business unit presidents will now report directly to GenCorp's Chairman 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. John Yasinsky. GenCorp will also consolidate all corporate transactional and administrative activities into a Business Services Center which will concentrate on process improvements to provide more efficient customer services at lower costs. The Company plans to strengthen leadership at its corporate office in the areas of business development and planning and operations and total quality. Business Development and Planning at the corporate level will drive value-creating revenue growth through internal and external initiatives. Corporate Operations and Total Quality will drive excellence in all aspects of operations throughout GenCorp's business units. "The reorganization will result in a stronger, more effective and efficient structure that is aligned with and capable of driving our strategies for achieving operational excellence and value-creating growth," said Chairman and CEO John Yasinsky. Concurrent with the reorganization, four GenCorp Officers have announced their retirement under the Voluntary Early Retirement Incentive Program: William E. Bachman, Executive Vice President; Marvin L. Isles, Executive Vice President; Charles R. Ennis, Senior Vice President, Law and Environmental Affairs and General Counsel; and Dr. Russell A. Livigni, Vice President, Corporate Technology. Mr. Isles will remain with the Company over the next several months to complete a number of key projects. GenCorp is a technology based company with strong positions in aerospace and defense, automotive and polymer product markets. CONTACT: GenCorp, Fairlawn Rosemary rosemary [ultimately from Lat.,=dew of the sea], widely cultivated evergreen and shrubby perennial (Rosmarinus officinalis) of the family Labiatae (mint family), fairly hardy and native to the Mediterranean region. It has small light-blue flowers. Younts, Communications, 216/869-4494 Michael Hicks Michael Hicks (b. 1948) is an English historian, specialising on the history of late medieval England, in particular the Wars of the Roses. Hicks studied with C. A. J. Armstrong and Charles Ross while a student at the University of Bristol. , Investor Relations Investor relations The process by which the corporation communicates with its investors. , 216/869-4411 |
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