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Eastman Names Mowen to Head New Segment

June 2, 2003
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KINGSPORT, Tenn. — Eastman Chemical Co. has enhanced the focus on its efforts to increase revenue and earnings from developing new businesses and has realigned its organizational and reporting structure to reflect this change. As a result, the company has added a new financial reporting segment for “Developing Businesses,” effective with first quarter 2003.

“Our actions demonstrate the growing importance of our investment in non-traditional growth opportunities,” said J. Brian Ferguson, chairman and chief executive officer. “Adding the Developing Businesses Division and segment provides greater visibility to this increasingly important component of our company, without making significant changes to the way we report our core businesses.”

Roger K. Mowen Jr., senior vice president, is leading the Developing Businesses Division. “During Roger’s 30-year career, he has had experience in nearly every facet of business building,” Ferguson said. “His experience and ability to lead efforts to build new capabilities and deliver value to the marketplace will be important elements in the success of this new segment.”

Eastman’s operating divisions now include:

• Eastman Division, with three segments: Coatings, Adhesives, Specialty Polymers and Inks; Performance Chemicals and Intermediates; and Specialty Plastics.

• Voridian Division, with two segments: Polymers and Fibers.

• Developing Businesses Division, with one segment of the same name.

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