5 October 2010 – Tensar Corporation announced today that President and Chief Executive Officer Phillip D. Egan has decided to retire from his positions. He will relinquish his duties effective immediately and will leave Tensar later this year.
Don Meltzer will serve as interim President and CEO of Tensar Corporation while a search for a permanent replacement is conducted. Don has served as a Tensar Board member for the past year and has recently worked closely with the Tensar leadership team to prepare the company for growth and profitability expansion as the world recovers from the recent recession. Don most recently served as the CEO of American Pad & Paper (Ampad) where he led the company in a major turnaround and successful sale to Esselte. His background includes an impressive track record of transforming businesses through customer-centered strategies. He joined Ampad from Johns Manville where he served as Vice President and General Manager of the $600 million Roofing Systems Group. Prior to that, he was the Executive Vice President and COO of Clore Automotive, establishing Clore as the market leader in its key product segment. Mr. Meltzer was key to similar business accomplishments when he served as Vice President and General Manager of Ingersoll-Dresser Pump Co, North American Products & Services.
Stockton Croft, Chairman of the Tensar Board and an Arcapita Executive Director, stated that, “Arcapita and the Board thank Phil for his many years of dedication to and leadership of Tensar. We are committed to the continued growth and success of Tensar. We strongly believe that Tensar can and will continue to offer superior value to its customers through its advanced engineering, product development and manufacturing capabilities, combined with its passion for providing the best solution to each customer’s individual need, which is all enabled by its exceptionally talented and motivated employees and associates. Tensar and its Board remains committed to further investment in its technology and people to maintain and build its industry leading position as the premier soil stabilization solution provider to all the world markets.”
About Tensar Corporation
Tensar Corporation is a leading global developer and manufacturer of proprietary, highly engineered, non-traditional site-development solutions for infrastructure end-markets, including transportation, commercial and industrial construction. We provide our customers with an integrated suite of innovative products, technologies and application expertise for a wide variety of end uses, including high performance roadways, earth retention structures, building foundations and erosion and sediment control. World headquarters for Tensar Corporation are in Atlanta, GA. www.tensarcorp.com
Contact
Mr. Jeffrey B. Johnson
Tensar Corporation
EVP & Chief Financial Officer
+1 404 214 5375
E-mail: jeffjohnson@tensarcorporation.com
