Eastman Board Elects New Member, Declares Dividend
KINGSPORT, Tenn. — The board of directors of Eastman Chemical Company (NYSE:EMN) has elected Michael P. Connors as a director effective March 15, 2005. Connors, 49, is a member of the executive board of VNU, a major worldwide media and marketing information company. He also serves as chairman and chief executive officer of VNU Media Measurement & Information Group.
“We are pleased to have Mike join Eastman’s board,” said Brian Ferguson, chairman and CEO. “His experience in building a leading global business-to-business marketing information company will serve Eastman well as we continue to extend our products into new markets and to create new products for existing markets.” Connors will serve in the class of directors for which the term in office expires at Eastman’s annual meeting of stockholders in May 2005.
Connors joined VNU in 2001 upon its acquisition of ACNielsen Corporation, where he had served as vice chairman following its spin-off from Dun & Bradstreet Corporation in 1996. Prior to joining ACNielsen, Connors held senior management positions at American Express and Sprint Corporation.
He received a Bachelor of Science degree in business administration from the University of Kansas and a Master of Science degree in human resources management from Central Michigan University.
In other business, Eastman’s board of directors declared a quarterly cash dividend of $0.44 per share on the company’s common stock.
The dividend is payable April 1, 2005, to stockholders of record as of March 15, 2005.
Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world’s largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. Eastman is leveraging its heritage of innovation and strength in polyester, acetyl and organic chemistry technologies to drive growth and meet increasing demand in four select markets: building and construction, packaging, health, and electronics. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2004 sales of $6.6 billion and approximately 12,000 employees. For more information about Eastman and its products, visit www.eastman.com.
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