Ciba Specialty Chemicals Inc
Switzerland
Corporate
Communications
Ciba Spezialitatenchemie AG
Schweiz
Corporate
Communications
Ciba Specialites Chimiques SA
Suisse
Corporate
Communications
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Ciba
October 31, 2000
Basel, Switzerland
News Release
Armin Meyer new CEO and Chairman of
Ciba Specialty Chemicals
The Board of Ciba Specialty Chemicals today announces that it has appointed
Dr. Armin Meyer, currently Vice Chairman of the Board, as the new CEO and
Chairman of the Company. Armin Meyer, who is a Member of the Executive
Committee of ABB since 1995, will assume his new responsibilities as Chairman
of Ciba Specialty Chemicals on November 17, 2000, and as CEO from January 1,
2001. He replaces Dr. Rolf A. Meyer, who is stepping down as CEO and Chairman
on November 16, 2000 and will also leave the Board of Directors on that date.
Armin Meyer, aged 51, is currently Head of the Building Technologies Segment
of the ABB Group, one of five global segments with sales in 1999 of more than
USD 6 billion and with some 55 000 people around the world.
"After 25 years at ABB and experience there in a number of senior management
positions, I see this is as a highly attractive challenge, particularly since
my involvement as a Member of the Board of Ciba Specialty Chemicals has
provided me with valuable insights into the potential of the Company," Armin
Meyer said. "After the successful spin-off, Rolf A. Meyer and his management
team completed major initiatives to reduce costs, focus the portfolio and lay
strong foundations for profitable growth and innovation," he added.
Rolf A. Meyer, CEO and Chairman, aged 57, has informed the Board that he is
stepping down effective November 16, 2000. The Board has accepted the
resignation with regret and expressed its appreciation for the major
contribution that Rolf A. Meyer has made in the formation of Ciba and its
further development since flotation.
"The Company is in good shape and is achieving strong results. After 27 years
with Ciba-Geigy and Ciba Specialty Chemicals in leadership positions, and 5
years after initiating the first steps for the spin-off, I am ready for a new
challenge," Rolf A. Meyer said. "Armin Meyer has an excellent track record. As
a segment leader at ABB, he has gained substantial experience of the
operational issues facing international companies, such as dealing with a
global customer base, gaining entry to new high growth markets and the need
for constant innovation to remain at the forefront of technological change.
These are challenges that Ciba faces on a daily basis and where Armin Meyer's
experience will be invaluable in the future development of Ciba Specialty
Chemicals," Rolf A. Meyer added.
<PAGE>
Ciba Specialty Chemicals (SWX:CIBN, NYSE: CSB) is a leading company dedicated
to producing high-value effects for our customers' products. Our specialty
chemicals, added in small quantities, enhance the performance, look and feel
of the final product. Business success is driven by our long-term strategy of
innovation and continuous operational improvements. Ciba brings new and
creative thought to the processes and products of our customers in more than
120 countries. Ciba's continuing operations generated sales of CHF 7.2 billion
in 1999 and some CHF 250 million was spent on R&D to foster innovation across
the Company.
For further information please contact:
Media Investor Relations
Basel, Switzerland Basel, Switzerland
Rodolfo Ciucci Matthias A. Fankhauser
Corporate Communications Investor Relations
Tel: +41 61 636 4444 Tel: +41 61 636 5081
Fax: +41 61 636 3019 Fax: +41 61 636 5111
Attachment: CV Armin Meyer
www.cibasc.com:
o News release
o CV's Armin Meyer, Rolf A. Meyer
o Photos Armin Meyer, Rolf A. Meyer (jpg)
