COLUMBUS, Ohio, May 02, 2008 (BUSINESS WIRE) -- Worthington Industries (NYSE:WOR) today announced that John
Christie, President and CFO, has requested early retirement. Christie
will stay with Worthington through the end of July to permit an
orderly close of the company's yearly financial statements and a
smooth transition to a new CFO.
"This was a very difficult decision for me," said Christie. "I
agreed to take on the added role of CFO in 2003, but it was not my
intention to stay on in this capacity for more than 5 years. Christie
also said a recently diagnosed family health issue made him realize
that the demands of the position make it difficult for family to be a
priority. "It will be hard to leave Worthington, but there is a strong
financial team in place."
"I value the contributions and commitment John has made to
Worthington," said John P. McConnell, Chairman and CFO. "John became
President in 1999. A few years later, he agreed to take over as CFO in
the midst of ever-tightening financial regulations that began with
Sarbanes Oxley. Under John's leadership, our financial team has
responded well to these increasing demands. We wish John all the best
in his retirement and thank him for his service."
Worthington Industries is a leading diversified metal processing
company with annual sales of approximately $3 billion. The Columbus,
Ohio, based company is North America's premier value-added steel
processor and a leader in manufactured metal products such as metal
framing, metal ceiling grid systems, pressure cylinders, automotive
past model service stampings and laser welded blanks. Worthington
Industries and its subsidiaries employ more than 8,000 people and
operate 69 facilities in 11 countries.
Founded in 1955, the company operates under a long-standing
corporate philosophy rooted in the golden rule, with earning money for
its shareholders as the first corporate goal. This philosophy, an
unwavering commitment to the customer, and one of the strongest
employee/employer partnerships in American industry serve as the
company's foundation.
Safe Harbor Statement
The company wishes to take advantage of the Safe Harbor provisions
included in the Private Securities Litigation Reform Act of 1995 ("the
Act"). Statements by the company, which are not historical
information, constitute "forward looking statements" within the
meaning of the Act. All forward-looking statements are subject to
risks and uncertainties which could cause actual results to differ
from those projected. Factors that could cause actual results to
differ materially include risks described from time to time in the
company's filings with the Securities and Exchange Commission.
SOURCE: Worthington Industries, Inc.
Worthington Industries, Inc.
Media Contact:
Cathy M. Lyttle, 614-438-3077
VP, Corporate Communications
E-mail: cmlyttle@WorthingtonIndustries.com
or
Investor Contact:
Allison M. Sanders, 614-840-3133
Director, Investor Relations
E-mail: asanders@WorthingtonIndustries.com
or
www.WorthingtonIndustries.com