American Pacific Corporation (APFC) Announces Retirement of CEO; Dr. Joseph Carleone Named as Successor
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American Pacific Corporation ("AMPAC") (Nasdaq: APFC) announced that John R. Gibson, Chairman of the Board of Directors and Chief Executive Officer, will retire as Chief Executive Officer, effective December 31, 2009, after leading the company for over 12 years.
He will be succeeded as Chief Executive Officer by Dr. Joseph Carleone, who currently serves as President and Chief Operating Officer. Mr. Gibson will retain his role as Chairman of the Board of Directors. These changes are the result of succession planning begun by the Board of Directors several years ago and are intended to provide continuity in executing AMPAC's long-term strategic plans.
Dr. Carleone's responsibility will be President and Chief Executive Officer. Mr. Gibson will continue to serve AMPAC as the non-executive Chairman of the Board of Directors.[SM]
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