Corning Incorporated (NYSE: GLW) today announced the appointment of
Edward Schlesinger to executive vice president and chief financial
officer, effective Feb. 18, 2022. Schlesinger will report to
Wendell Weeks, chairman and chief executive officer, and will
succeed retiring CFO Tony Tripeny, whose important contributions
throughout his career have made Corning a stronger company.
Schlesinger, age 54, will oversee Finance and Investor
Relations. His transition reflects a broader plan to develop top
talent across Corning globally, best positioning the company to
capture an attractive set of long-term opportunities and deliver
ongoing value to its stakeholders.
“Ed has long played a key role in the growth and financial
strength of our company. As part of our succession planning, he’s
worked closely with Corning’s Senior Leadership Team – bringing to
bear his deep expertise and technical knowledge in all aspects of
corporate finance and compliance,” Weeks said.
“Ed is part of a new generation of distinguished leaders
stepping up to drive the company through an exciting period of
invention and transformation. We look forward to the important
contributions he will make toward Corning’s ongoing success,” Weeks
continued.
Schlesinger has led the company’s Corporate Accounting,
Compliance, Financial Planning & Analysis, Shared Services, and
External Reporting functions since 2015. He was appointed senior
vice president in 2019 and became a member of the Senior Leadership
Team in 2020. He joined the company in 2013 as CFO of Corning’s
Optical Communications segment. Prior to Corning, Schlesinger spent
more than 20 years serving in various financial leadership roles.
He holds a Bachelor of Science in finance from Montclair State
University and a Master of Business Administration from St. John’s
University. He serves on the board of directors at Hemlock
Semiconductor Group.
Tripeny, age 63, has elected to retire in the first quarter of
2022. He was appointed executive vice president in 2018 and has
served as Corning’s CFO since September 2015. Throughout his
career, he has held several key financial leadership positions in
the company.
“Tony has been a strategic thought partner, and I am extremely
proud of what we have accomplished together during an era of strong
execution and growth for the company,” Weeks said.
“We are grateful for Tony’s exceptional service during his 36
years with the company, particularly the trust he’s helped build
among our employees and investors. He has been a good friend to me
and an inspiration to many people at Corning – exemplifying the
values and integrity essential for a leader in his position. We
wish him well in his retirement,” Weeks continued.
Caution Concerning Forward-Looking
Statements
The statements contained in this release that are not historical
facts or information and contain words such as “will,” “believe,”
“anticipate,” “expect,” “intend,” “plan,” “seek,” “see,” “would,”
and “target” and similar expressions are forward-looking
statements. These forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and include estimates and assumptions related to
economic, competitive and legislative developments. Such statements
relate to future events that by their nature address matters that
are, to different degrees, uncertain. These estimates are
subject to change and uncertainty which are, in many instances,
beyond our control. There can be no assurance that future
developments will be in accordance with management’s expectations.
Actual results could differ materially from those expected by us,
depending on the outcome of various factors. We do not undertake to
update forward-looking statements.
Although the Company believes that these forward-looking
statements are based upon reasonable assumptions regarding, among
other things, current estimates and forecasts, general economic
conditions, its knowledge of its business, and key performance
indicators that impact the Company, actual results could differ
materially. The Company does not undertake to update
forward-looking statements. Some of the risks, uncertainties
and other factors that could cause actual results to differ
materially from those expressed in or implied by the
forward-looking statements include, but are not limited to: the
duration and severity of the COVID-19 pandemic, and its impact
across our businesses on demand, operations, our global supply
chains and stock price; the effects of acquisitions, dispositions
and other similar transactions; global economic trends, competition
and geopolitical risks, or an escalation of sanctions, tariffs or
other trade tensions between the U.S. and China or other countries,
and related impacts on our businesses' global supply chains and
strategies; changes in macroeconomic and market conditions and
market volatility (including developments and volatility arising
from the COVID-19 pandemic), including inflation, interest rates,
the value of securities and other financial assets, precious
metals, oil, natural gas and other commodity prices and exchange
rates (particularly between the U.S. dollar and the Japanese yen,
new Taiwan dollar, euro, Chinese yuan and South Korean won), and
the impact of such changes and volatility on our financial position
and businesses; product demand and industry capacity; competitive
products and pricing; availability and costs of critical components
and materials; new product development and commercialization; order
activity and demand from major customers; the amount and timing of
our cash flows and earnings and other conditions, which may affect
our ability to pay our quarterly dividend at the planned level or
to repurchase shares at planned levels; possible disruption in
commercial activities or our supply chain due to terrorist
activity, cyber-attack, armed conflict, political or financial
instability, natural disasters, international trade disputes or
major health concerns; loss of intellectual property due to theft,
cyber-attack, or disruption to our information technology
infrastructure; unanticipated disruption to our supply chain,
equipment, facilities, IT systems or operations; effect of
regulatory and legal developments; ability to pace capital spending
to anticipated levels of customer demand; our ability to increase
margins through implementation of operational changes, pricing
actions and cost reduction measures; rate of technology change;
ability to enforce patents and protect intellectual property and
trade secrets; adverse litigation; product and components
performance issues; retention of key personnel; customer ability to
maintain profitable operations and obtain financing to fund ongoing
operations and manufacturing expansions and pay receivables when
due; loss of significant customers; changes in tax laws and
regulations; the impacts of audits by taxing authorities; and the
potential impact of legislation, government regulations, and other
government action and investigations; and other risks detailed in
Corning’s SEC filings.
For a complete listing of risks and other factors, please
reference the risk factors and forward-looking statements described
in our annual reports on Form 10-K and quarterly reports on Form
10-Q.
Web Disclosure
In accordance with guidance provided by the SEC regarding the
use of company websites and social media channels to disclose
material information, Corning Incorporated (“Corning”) wishes to
notify investors, media, and other interested parties that it uses
its website
(https://www.corning.com/worldwide/en/about-us/news-events.html) to
publish important information about the company, including
information that may be deemed material to investors, or
supplemental to information contained in this or other press
releases. The list of websites and social media channels that the
company uses may be updated on Corning’s media and website from
time to time. Corning encourages investors, media, and other
interested parties to review the information Corning may publish
through its website and social media channels as described above,
in addition to the company’s SEC filings, press releases,
conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading
innovators in materials science, with a 170-year track record of
life-changing inventions. Corning applies its unparalleled
expertise in glass science, ceramic science, and optical physics
along with its deep manufacturing and engineering capabilities to
develop category-defining products that transform industries and
enhance people's lives. Corning succeeds through sustained
investment in RD&E, a unique combination of material and
process innovation, and deep, trust-based relationships with
customers who are global leaders in their industries. Corning's
capabilities are versatile and synergistic, which allows the
company to evolve to meet changing market needs, while also helping
our customers capture new opportunities in dynamic industries.
Today, Corning's markets include optical communications, mobile
consumer electronics, display, automotive, and life sciences.
Media Relations
Contact: Megan
Whittemore(202) 661-4171whittemom@corning.com
Investor
Relations Contact:Ann H.S. Nicholson (607) 974-6716
nicholsoas@corning.com
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