American Cyanainid Announces New CEO, President WAYNE, N.J. The board of directors .of American Cyanamid Company announced that upon the recommendation of Chairman and Chief Executive Officer George J. Sella, Jr., it has elected Albert J. Costello as CEO and chairman and Frank V. AtLee as president of the $S billion life sci ences company effective April 1. The board also announced the retirement of William A. Liffers, vice chairman, on April 6, follow ing 40 years of service with Cyanamid. Costello will succeed Sella, who is retiring March 31 follow ing a 39-year career with Cyana mid. Sella will continue as a mem ber of Cyanamid’s board of direc tors. AtLee will succeed Costello as president of the company. Sella, who will be 65 in Sep tember, said, “The election of Costello follows the succession plan which had been agreed to by the board of directors in Decem ber 1990. I am pleased with the major restructuring that has been completed over the past several years, transforming Cyanamid into a life sciences company with strong medical and agricultural businesses. I am confident that this new management team, which has played such a key role in Cya namid’s evolution and success, will lead the company into a new era of sustained, profitable growth.” On February 2, Cyanamid announced record 1992 sales of $5.27 billion and record net earn ings of $395 million. Since Sella became Cyana mid’s chief executive officer in 1983, Cyanamid has strengthened its medical and agricultural businesses through increased research aod ilQVQjoptnent spend ing and selected acquisitions and mergers. Recently, Cyanamid and Immuncx Corporation announced an agreement to create a new bio pharmaceutical company by merging Cyanamid’s Lederle Laboratories oncology business in North America with Immunex. During this period, Cyanamid also divested the Formica brand products business, its consumer , products business, and many of its chemicals product lines. In addi tion, the remaining chemicals bus iness has been separated into a new business unit of Cyanamid under the Cytec Industries name. Costello, 57, was elected presi dent of Cyanamid and a member of the board of directors in 1991. He had been an executive vice president and member of Cyana mid’s Executive Committee since 1983. During his career, Costello has held various positions in the company’s agricultural and chem icals businesses as well as us international business, including overseas assignments in Mexico and Spain. Costello, who joined Cyanamid as a chemist in 1957, was bom in New York City and holds bache lor’s and master’s degrees in che mistry from Fordham University and New York University, respectively. AtLee, 52, was elected a mem ber of Cyanamid’s board of direc tors in 1991. He was named an executive vice president with authority over Cyanamid’s world wide medical business and a member of the company’s Execu tive Committee in 1983. During his career, AtLee has held various positions in the com pany’s medical, agricultural, and chemical businesses. He joined - the company in 1966 as a techni cal sales representative. A native of Richmond, Va., he is a graduate of Lynchburg'College with a bachelor’s in chemistry and biology. (Continued IrSm Pago A 32) Holstein Youth Recognized At Banquet The 1992 Intermediate Record Book winners Jana Edwards, Jason Watt, Kelly Myers, and Jam! Savage. Maryland Holstein youth Senior Record Book winners are, from the left, Chip Sav age, Jeffrey Fritz, Kelli Savage, Shannon Harrison, and Staci Winters. From the left, 1991 Junior Record Book winners are, Barbara Schenning, Kristin Myers, Justin Watt, and Ryan Savage. ' Lancaster Firming, , S«turdiyi l»lrctt »I§WA33 <s j / ~ *<
Significant historical Pennsylvania newspapers