Hexcel Elects Two New Board Members
STAMFORD, Conn., Nov. 11, 1999 - Hexcel Corporation announced today that Robert S. Evans and Lewis Rubin have been elected to its Board of Directors. Mr. Evans and Mr. Rubin will assume the directorships formerly held by George S. Springer, who resigned from the Board, and the late Frank S. Wimer. Mr. Rubin, in addition, will be a member of the Audit Committee.
Mr. Evans is Chairman and CEO and a Director of Crane Co., a New York Stock Exchange company with $2.3 billion in revenues. Crane Co. is a diversified manufacturer of engineered industrial products serving a number of industrial markets including the aerospace and specialty materials markets in which Hexcel does not participate. Mr. Evans joined Crane Co. in 1974 and became Chairman and CEO in 1984. In addition, he is a director of several companies including Southdown, Inc.
Mr. Rubin is President and CEO and a Director of XTRA Corporation, a New York Stock Exchange company with sales of $461 million. XTRA Corporation is a leading global transportation equipment lessor with operations in highway, domestic inter-modal and marine container markets. Mr. Rubin was elected President and CEO of XTRA Corporation in 1990. He served on Hexcel's Board from 1993 to 1995.
Dr. Springer has agreed to become Senior Corporate Advisor for Technical Affairs for the company. He will be the company's principal external technical advisor on technology management and technology change. Dr. Springer has been a member of Hexcel's Board since 1993. He is Paul Pigott Professor and Chairman, Department of Aeronautics and Astronautics, and (by courtesy) Professor of Mechanical Engineering and Professor of Civil Engineering at Stanford University.
Mr. John J. Lee, Chairman and CEO of Hexcel Corporation, commented, "I am very pleased that Shell Evans and Lew Rubin are joining our Board, and we welcome Lew back to the company. These are two highly competent and experienced CEOs. Their significant experience with operational and financial matters should be of great benefit to our shareholders and the company." Mr. Lee continued, "George Springer has provided the Board and the company with invaluable expertise and experience during the last seven years and I thank him sincerely. I am pleased that George will continue the long relationship with the company in the new position of Senior Corporate Advisor for Technical Affairs."
Hexcel Corporation is the world's leading advanced structural materials company. It develops, manufactures and markets lightweight, high-performance reinforcement products, composite materials and engineered products for use in commercial aerospace, space and defense, electronics, general industrial and recreational applications.