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.
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