LAWRENCE C. McQUADE, VICE CHAIRMAN OF PRUDENTIAL MUTUAL FUND MANAGEMENT, INC., ELECTED TO BOARD OF QUIXOTE CORP.
LAWRENCE C. McQUADE, VICE CHAIRMAN OF PRUDENTIAL MUTUAL FUND MANAGEMENT, INC., ELECTED TO BOARD OF QUIXOTE CORP. CHICAGO, Feb. 5 /PRNewswire/ -- Quixote Corp. (NASDAQ: QUIX) announced today that Lawrence C. McQuade has been elected as a director by the board of directors to fill the vacancy created by the resignation of William J. McDonough. McDonough was required to resign from the boards of publicly held corporations upon his appointment as executive vice president of the Federal Reserve Bank of New York. McQuade, who has an extensive corporate and financial background, currently serves as vice chairman of Prudential Mutual Fund Management, Inc., and as managing director of investment banking for Prudential Securities, Inc. Over the past ten years, McQuade also has served as the president of a number of Prudential mutual funds. In addition, McQuade is a director of Bunzl P.L.C; the American Council on Germany; the Atlantic Council of the United States; the Foreign Bondholders Protective Council; the Foreign Policy Association; the American Forum on Education in a Global Age; and the International Management and Development Institute. McQuade also serves on the advisory committee of the Overseas Development Council; as chairman of the Committee on Multinational Enterprises and Investment of the U.S. Council for International Business; and as an expert adviser for the U.N. Commission on Transnational Corporations. McQuade is the former president and chief executive officer of Procon Inc., a subsidiary of Universal Oil Products Co., and a former executive vice president and director of W.R. Grace & Co. McQuade served as assistant secretary for domestic and international business for the U.S. Department of Commerce from 1963 through 1969 and, prior to that appointment, served with the U.S. Department of Defense as assistant to the assistant secretary for International Security Affairs. McQuade received a bachelor's degree in economics from Yale University, where he was elected to Phi Beta Kappa. McQuade also attended Oxford University as a Rhodes Scholar, receiving both a bachelor's and a master's degree, and has a law degree (cum laude) from Harvard Law School. McQuade is a member of the New York and District of Columbia Bars. "We are grateful to our former director, Mr. McDonough, for his many contributions to Quixote Corp., and we wish him every success in his new position with the Federal Reserve System," said Philip E. Rollhaus Jr., president of Quixote. "At the same time, we welcome Mr. McQuade to our board. Mr. McQuade's extensive corporate and financial experience in both the international and domestic sectors will be invaluable to Quixote's expansion in the months and years ahead." Quixote Corp. is a diversified technology company composed of Energy Absorption Systems, Inc., the world's leading manufacturer of a wide range of highway crash cushions; Stenograph Corp., the world's leading manufacturer of shorthand machines and computer systems for the court reporting profession, as well as litigation support software for the legal profession, and Disc Manufacturing Inc., one of the leading manufacturers of compact discs (CDs), videodiscs and CD-ROMs in the United States. -0- 2/5/92 /CONTACT: James H. DeVries or Joan R. Riley of Quixote, 312-467-6755/ (QUIX) CO: Quixote Corp. ST: Illinois IN: CPR SU: PER
JT -- NY081 -- 7399 02/05/92 17:21 EST
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|Date:||Feb 5, 1992|
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