St. Louis, MO, February 27, 2006--Solutia today announced its board of directors has named Jeffrey N. Quinn as its chairman. Quinn will continue to serve as president and chief executive officer of the company.
The company also announced that Paul H. Hatfield, previous chairman, will serve as lead director. Hatfield, commenting on the changes, stated: "This appointment is a well-earned recognition of Jeff Quinn's outstanding leadership and management over the nearly two years he has served as president and CEO of Solutia."
Quinn joined Solutia in January 2003 and served as general counsel, chief restructuring officer and corporate secretary before becoming president and chief executive officer in May 2004. Prior to joining Solutia, Quinn held executive positions at Premcor Inc., and Arch Coal, Inc.
Quinn commented, "Over the last two years it has been a privilege to work with our board of directors to reorganize and revitalize our company. I look forward to continuing those efforts in this additional role."
Solutia filed its proposed Plan of Reorganization and Disclosure Statement on Feb. 14. Under its Plan of Reorganization, Solutia anticipates emerging from Chapter 11 later this year with an improved competitive position.
