Hercules Appoints New CEO

Hercules Inc. (Wilmington, DE) announced yesterday that Keith Elliott plans to resign as CEO effective Jul. 1, 1999. He will remain chairman of the board of directors until Mar. 31, 2000. Following the resignation of William Cook as co-CEO, this makes the second CEO to resign within the last six months. (See related article).

Vincent Corbo, currently president and COO will take over Elliott's position on Jul. 1, 1999 and chairman on Apr. 1, 2000. Corbo joined Hercules in 1969 and progressed through various positions in research engineering and business management. In 1986, he became VP and GM of Fibers and held the same position in Film the following year. He was named president, Hercules Advanced Materials & Systems Co in 1989. Corbo was appointed to group VP and president of Hercules Materials Co. in 1992 and in 1993, of Hercules Food & Functional Products Co.

Hercules manufacturers chemical specialties used in a variety of industries, including hydrocolloids and other specialty ingredients used in food products.