8-KLeadership Changes

CORNING INC /NY 8-K Report, Executive Changes (Jun 7, 2007)

Filed June 7, 2007For Securities:GLW

Summary

Corning Incorporated (GLW) filed an 8-K report on June 7, 2007, to announce a significant change in its Board of Directors. The company's Board elected Kurt M. Landgraf as a new Director during its meeting on June 6, 2007. Mr. Landgraf's appointment is effective until the next annual shareholder meeting in April 2008, with an expectation to be nominated for a full three-year term thereafter. Mr. Landgraf brings a wealth of experience to Corning, having served as President and CEO of Educational Testing Service (ETS) since 2000, and prior to that, holding senior leadership roles at E.I. Du Pont de Nemours and Company (Du Pont). His extensive background in executive leadership and operations is expected to be a valuable asset to the Board. Notably, the Board has determined that Mr. Landgraf is independent and has no related party transactions with Corning. He has also been appointed to serve on the Audit Committee and the Corporate Relations Committee, indicating his immediate integration into key governance functions.

Key Highlights

  • 1Corning Incorporated appointed Kurt M. Landgraf to its Board of Directors on June 6, 2007.
  • 2Mr. Landgraf will serve as a Director until the annual shareholder meeting on April 24, 2008, with plans for a future nomination to a three-year term.
  • 3Mr. Landgraf is the President and CEO of Educational Testing Service (ETS) and previously held senior executive positions at E.I. Du Pont de Nemours and Company (Du Pont).
  • 4The Board has determined Mr. Landgraf to be an independent director with no related party transactions with Corning.
  • 5Mr. Landgraf has been appointed to the Audit Committee and the Corporate Relations Committee of the Board.
  • 6This appointment reflects a strengthening of the Board's oversight and governance expertise.

Frequently Asked Questions

Kurt M. Landgraf is a seasoned executive with extensive experience. He has been the President and Chief Executive Officer of Educational Testing Service (ETS) since 2000. Prior to that, he held significant leadership roles, including Executive Vice President and Chief Operating Officer, at E.I. Du Pont de Nemours and Company (Du Pont).

Mr. Landgraf was elected to the Board of Directors to bring his considerable executive leadership and operational expertise to Corning. His appointment is intended to enhance the Board's governance and strategic oversight capabilities. The Board specifically identified him as an independent director, suggesting a focus on objective guidance.

Mr. Landgraf has been appointed to serve on two key committees of the Board: the Audit Committee and the Corporate Relations Committee. These appointments indicate his immediate involvement in critical areas of corporate governance and oversight.

Yes, the Corning Board of Directors has concluded that Mr. Landgraf is independent and has no related party transactions with the company, fulfilling a key requirement for board composition and governance best practices.