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ETHYL CORPORATION NAMES BRUCE GOTTWALD CHIEF EXECUTIVE OFFICER

 ETHYL CORPORATION NAMES BRUCE GOTTWALD CHIEF EXECUTIVE OFFICER
 RICHMOND, Va., April 23 /PRNewswire/ -- The board of directors of Ethyl Corporation (NYSE: EY) today named Bruce C. Gottwald, president and chief operating officer, to the additional post of chief executive officer of the company.
 Gottwald, 58, succeeds Floyd D. Gottwald, Jr., as CEO. Floyd Gottwald, 69, remains chairman of the board and chairman of the company's executive committee.
 In announcing the realignment of duties, Floyd Gottwald said: "In order to provide for an orderly plan of management succession and to recognize Bruce Gottwald's contributions as president since 1969, he becomes chief executive officer with primary responsibility for carrying out the policies set by the board of directors and the executive committee of Ethyl. I will continue to serve as chairman of the board and chairman of the executive committee and will remain actively involved in the formulation of strategic plans and policies for Ethyl and its subsidiaries."
 Bruce Gottwald joined Albemarle Paper Manufacturing Company in Richmond in 1956 as a chemist. With the merger of Albemarle Paper and Ethyl Corporation (Delaware) in 1962 to form Ethyl Corporation (Virginia), he was elected vice president, secretary and a director of the new company. He was named executive vice president in 1964 and president five years later. He is a graduate of Virginia Military Institute and serves as a director of CSX Corporation, James River Corporation, Dominion Resources, Inc., and Tredegar Industries, Inc.
 Floyd Gottwald joined Albemarle Paper in 1943 as a chemist and over the years advanced to production manager, secretary, vice president and president. He was elected executive vice president of Ethyl Corporation in 1962 at the time of the merger of Albemarle and Ethyl. He served as vice chairman of the board from 1964 to 1968, when he was elected chairman of the board. He was named chief executive officer in 1970. He is a graduate of Virginia Military Institute and the University of Richmond. He is a director of Tredegar Industries.
 In other action today, Ethyl's directors declared a quarterly dividend of 15 cents a share on the common stock of the corporation and a regular quarterly dividend of $1.50 a share on the cumulative preferred, 6 percent Series A stock. Both dividends are payable July 1 to shareholders of record June 15, 1992.
 -0- 4/23/92
 /CONTACT: Robert P. Buford IV, 804-788-5494, or A. Prescott Rowe, 804-788-5413, both of Ethyl Corporation/
 (EY) CO: Ethyl Corporation ST: Virginia IN: CHM SU: PER


CM -- CH017 -- 2011 04/23/92 14:52 EDT
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Publication:PR Newswire
Date:Apr 23, 1992
Words:423
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