By Josh Beckerman
Corning Inc. Chief Financial Officer James Flaws will retire
after 42 years at the glassmaker.
Mr. Flaws joined the company in 1973 and held several roles in
its consumer-products group. He was named finance chief in 1999 and
added the title of vice chairman in 2002.
Tony Tripeny, who has been senior vice president, corporate
controller and principal accounting officer since 2009, will become
chief financial officer effective Sept 1.
Corning serves a variety of markets, including consumer
electronics, telecommunications and life sciences. Its products
include Gorilla Glass, which is used in iPhones and other
devices.
The company said Lawrence D. McRae will become vice chairman
after Mr. Flaws retires on Nov. 30. Mr. McRae is currently
executive vice president of strategy and corporate development.
Meanwhile, Jeffrey W. Evenson was named senior vice president
and chief strategy officer, effective immediately.
RBC Capital raised its rating on Corning in June, citing the
coming TV upgrade cycle, accelerating growth in its optical
business and strong cash-flow generation. Earlier this month,
Corning announced a $2 billion stock-buyback program.
In April, the company said its first-quarter profit rose
sharply, though sales in its key specialty-material segment edged
up less than expected.
Write to Josh Beckerman at josh.beckerman@wsj.com
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