Mr. O'Brien to serve as member of Kraton Audit Committee

05 Feb '08

2 min read

Kraton Polymers LLC (Kraton) announces the appointment of Dan F. Smith as Chairman of its Board of Directors. Mr. Smith succeeds Kelvin Davis, a Partner of TPG Capital, who has served as Kraton's Chairman since 2004. Mr. Davis remains a member of Kraton's Board.

In addition, Kevin M. Fogarty and Kevin G. O'Brien were also named to Kraton's Board of Directors effective January 31, 2008. Mr. Fogarty, Kraton's President and Chief Executive Officer, will also serve as a member of the Executive Committee, replacing George B. Gregory who resigned as a member of the Board and the Executive Committee.

Mr. O'Brien, a managing director of CCMP Capital Advisors, LLC, will also serve as a member of the Audit Committee of Kraton, replacing Timothy Walsh, a managing director of CCMP who resigned as a member of the Audit Committee. Mr. Walsh remains a member of Kraton's Board.

“I have been honored to serve as Kraton's Chairman these past three years,” said Mr. Davis. “Mr. Smith's proven leadership, experience, and achievements in the chemical and polymer industry will prove invaluable to Kraton in pursuit of its strategic objectives. On behalf of all our shareholders, we welcome Mr. Smith to Kraton's Board.”

Mr. Smith began his career with ARCO (Atlantic Richfield Company) in 1968 as an engineer. He was elected Chief Executive Officer of Lyondell in December 1996. Since 1997, Mr. Smith has also served as Chief Executive Officer of Equistar Chemicals, LP, and since December 1, 2004, he has served as the Chief Executive Officer of Millennium Chemicals Inc. Equistar and Millennium are wholly owned subsidiaries of Lyondell.

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