Innospec Appoints Keller Arnold as Non-Employee Director

Rhea-AI Summary

Innospec Inc. has appointed Ms. Elizabeth Keller Arnold as a non-employee director, effective November 1, 2020. Arnold, who has held significant roles at General Electric and Tyco, was most recently the CFO at Houghton International. Her initial term will run until the 2021 Annual Stockholders Meeting, and she will also join the Audit Committee. Chairman Milton C. Blackmore expressed confidence in Arnold's expertise in financial leadership and corporate development, which will support Innospec's growth strategy in the specialty chemicals sector.

Positive

• Appointment of Elizabeth Keller Arnold adds financial leadership and industry expertise.
• Emma Arnold's experience with revenue growth enhances strategic insight for the company.

Negative

• Potential concerns regarding continuity in leadership due to her non-employee status.
• No prior experience on Innospec's Board may lead to a learning curve.

ENGLEWOOD, Colo., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Innospec Inc. (NASDAQ: IOSP) today announced that it has appointed Ms Elizabeth Keller Arnold as a non-employee director, effective November 1, 2020.

After a long and successful career with General Electric and Tyco, Ms. Arnold was most recently Chief Financial Officer of Houghton International, a highly regarded global specialty chemical company. She is also an independent director of FreightCar America Inc.

She has been appointed for an initial term until the 2021 Annual Stockholders Meeting and will also become a member of the Audit Committee.

Milton C. Blackmore, the Chairman of Innospec, said, “We are delighted that Keller will be joining our Board. She brings valuable skills and experience in financial leadership, revenue growth and corporate development and an extensive knowledge of the specialty chemicals industry. She will be an excellent addition to the Board as Innospec executes its growth strategy and develops its portfolio in the coming years.”

Ms Arnold said, “I am honored and excited to join the Innospec Board. The company is a leader in its markets and is well-positioned to continue to deliver strong value to all its Stakeholders. I will work to ensure that my skills and experience in finance and in the specialty chemical industry become an asset to the Board.”

About Innospec Inc.

Innospec Inc. is an international specialty chemicals company with approximately 2000 employees in 23 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific.  The Fuel Specialties business specializes in manufacturing and supplying fuel additives that improve fuel efficiency, boost engine performance and reduce harmful emissions. Oilfield Services provides specialty chemicals to all elements of the oil & gas exploration and production industry.  The Performance Chemicals business creates innovative technology-based solutions for our customers in the Personal Care, Home Care, Agrochemical, Mining and Industrial markets. Octane Additives produces octane improvers to enhance gasoline.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements.  Such forward-looking statements include statements (covered by words like “expects,” “estimates,” “anticipates,” “may,” “believes,” “feels” or similar words or expressions, for example) which relate to earnings, growth potential, operating performance, events or developments that we expect or anticipate will or may occur in the future.  Although forward-looking statements are believed by management to be reasonable when made, they are subject to certain risks, uncertainties and assumptions, and our actual performance or results may differ materially from these forward-looking statements.  Additional information regarding risks, uncertainties and assumptions relating to Innospec and affecting our business operations and prospects are described in Innospec’s Annual Report on Form 10-K for the year ended December 31, 2019 and other reports filed with the U.S. Securities and Exchange Commission.  You are urged to review our discussion of risks and uncertainties that could cause actual results to differ from forward-looking statements under the heading "Risk Factors” in such reports.  Innospec undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Brian Watt
Innospec Inc.
+44-151-355-3611
Brian.Watt@innospecinc.com

FAQ

Who is Elizabeth Keller Arnold and what is her background?

Elizabeth Keller Arnold has a significant background in financial leadership, previously serving as CFO of Houghton International and holding roles at General Electric and Tyco.

What is the significance of Arnold's appointment for Innospec Inc.?

Arnold's appointment is expected to bolster Innospec's Board with her expertise in financial leadership and the specialty chemicals industry, aiding in executing the company's growth strategies.

When did Elizabeth Keller Arnold officially join the Innospec Board?

Elizabeth Keller Arnold officially joined the Innospec Board on November 1, 2020.

What will be Arnold's role within the Innospec Board?

Arnold will serve as a non-employee director and a member of the Audit Committee.

How long is Arnold's initial term as a director?

Arnold's initial term as a director will last until the 2021 Annual Stockholders Meeting.