8-KLeadership Changes

CORNING INC /NY 8-K Report, Executive Changes (Jul 21, 2015)

Filed July 21, 2015For Securities:GLW

Summary

This 8-K filing from Corning Incorporated (GLW) announces a significant leadership change in its finance department. James B. Flaws, the long-serving Vice Chairman and Chief Financial Officer, will be stepping down from his CFO role effective August 31, 2015, as part of his planned retirement later in the year. Mr. Flaws will retire completely from the company and its Board of Directors on November 30, 2015, concluding a distinguished 42-year career. Corning has appointed R. Tony Tripeny as the new Senior Vice President and Chief Financial Officer, effective September 1, 2015. Mr. Tripeny brings extensive experience within Corning, having held various finance and operational leadership roles since joining in 1985, including significant contributions to Corning Optical Communications and oversight of accounting, business control, and tax functions. This transition signals continuity in financial leadership with a seasoned internal executive.

Key Highlights

  • 1James B. Flaws, Vice Chairman and CFO, will relinquish his CFO title effective August 31, 2015, in preparation for his retirement.
  • 2Mr. Flaws will fully retire from Corning, including his Vice Chairman role and Board of Directors positions, on November 30, 2015.
  • 3R. Tony Tripeny has been appointed Senior Vice President and Chief Financial Officer, effective September 1, 2015.
  • 4Mr. Tripeny has a long tenure at Corning, starting in 1985 and holding numerous finance and operational leadership positions.
  • 5Mr. Tripeny's experience includes leading finance for significant acquisitions and integrations, and overseeing key financial functions.
  • 6The appointment of Mr. Tripeny suggests a focus on internal talent development for critical executive roles.

Frequently Asked Questions

James B. Flaws is stepping down as CFO as part of his planned retirement from Corning Incorporated later this year. He will transition out of his CFO role on August 31, 2015, and fully retire from the company on November 30, 2015, after 42 years of service.

R. Tony Tripeny has been appointed as the new Senior Vice President and Chief Financial Officer, effective September 1, 2015. He has been with Corning since 1985 and has held various finance and operational leadership positions within the company.

R. Tony Tripeny has extensive experience at Corning since 1985, including roles such as corporate accounting manager, plant controller, division controller, corporate controller, and principal accounting officer. He has also been responsible for accounting, analytical services, business control, and tax functions, and served on Corning's management committee.

This filing primarily announces a planned leadership transition due to retirement. The appointment of an internal executive, R. Tony Tripeny, who has a long history with the company and in financial leadership roles, suggests a focus on continuity and internal talent development rather than an immediate strategic shift indicated solely by this personnel change.