Summary
Corning Incorporated (GLW) filed an 8-K report on December 4, 2015, announcing significant personnel changes within its leadership team. The most notable event is the retirement of Mr. James B. Flaws, who had served as Vice Chairman and was a long-standing member of the Board of Directors. Mr. Flaws had previously transitioned from his role as CFO in August 2015, with Mr. R. Tony Tripeny assuming that position. Further reinforcing the CFO transition and ensuring continued financial oversight, the Board of Directors has appointed Mr. Edward A. Schlesinger as the principal accounting officer, effective December 2, 2015. Mr. Schlesinger's appointment fills the role previously held by Mr. Tripeny, who will continue to serve as the principal financial officer. These changes indicate a planned leadership succession and a clear delineation of financial responsibilities within the company.
Key Highlights
- 1Mr. James B. Flaws retired as Vice Chairman of Corning Incorporated on November 30, 2015, concluding 42 years of service.
- 2Mr. Flaws also retired from the Board of Directors and its Finance and Executive Committees concurrently with his Vice Chairman retirement.
- 3Mr. Flaws had previously stepped down as Chief Financial Officer (CFO) on August 31, 2015, as part of his retirement plan.
- 4Mr. R. Tony Tripeny was appointed Chief Financial Officer earlier, on August 31, 2015.
- 5Mr. Edward A. Schlesinger was designated as the principal accounting officer by the Board of Directors on December 2, 2015.
- 6Mr. Schlesinger's appointment as principal accounting officer assumes the role previously held by Mr. Tripeny.
- 7Mr. Tripeny will continue to serve as the principal financial officer for the company.