GenCorp Announces Appointment of James H. Perry to Board of Directors;
Resignation of Three Directors
James R. Henderson Named Non-executive Chairman
SACRAMENTO, Calif., May 19 /PRNewswire-FirstCall/ -- GenCorp Inc.
(NYSE: GY) announced today the appointment of Mr. James H. Perry to the
Company's Board of Directors effective immediately. Timothy A. Wicks, Todd R.
Snyder and Sheila E. Widnall have resigned as members of the Board effective
immediately.
The Company also announced that the Board unanimously elected Mr. James R.
Henderson to serve as non-executive Chairman of the Board, replacing Mr.
Wicks, who held that position since February 2007. Mr. Henderson has been a
Director of the Company since March 2008.
"Given Mr. Perry's impressive accomplishments as a senior executive in the
aerospace and defense sector, he will provide valuable guidance as we chart
the future of GenCorp," said Scott Neish, interim president and chief
executive officer of GenCorp. "I look forward to working more closely with Jim
Henderson, who has already provided valuable direction since joining the Board
in March.
"I would also like to thank Mr. Wicks, Mr. Snyder and Dr. Widnall for
their years of service and contributions to the Company as members of the
Board of Directors. I wish each of them well in their future endeavors,"
concluded Mr. Neish.
Mr. Perry, age 47, has served in various senior management roles,
including vice president, chief financial officer, controller and treasurer
during his tenure from 1995 -- 2007 with United Industrial Corporation, a
leading provider of aerospace and defense systems and services including
unmanned aircraft and ground control stations. Mr. Perry currently serves as a
consultant to United Industrial and its affiliates. It is expected that Mr.
Perry will serve on the Audit Committee of GenCorp.
Mr. Henderson, age 50, is a Managing Director and operating partner of
Steel Partners LLC, a global investment management firm. Mr. Henderson has
more than 26 years of experience as an operating executive with various
companies, including defense companies such as ECC International Corp. and
Aydin Corp., and with the defense and military division of UNISYS Corp. He
also served as a director of the defense company Tech-Sym Corp.
About GenCorp
GenCorp is a leading technology-based manufacturer of aerospace and
defense products and systems with a real estate business segment that includes
activities related to the entitlement, sale, and leasing of the Company's
excess real estate assets. Additional information about the Company can be
obtained by visiting the Company's web site at http://www.GenCorp.com.
SOURCE GenCorp Inc.
Investors, Yasmin Seyal, senior vice president and chief financial officer,
+1-916-351-8585, or Media, Linda Cutler, vice president, corporate
communications, +1-916-351-8650, both of GenCorp Inc.
