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Gary A. Cappeline was named vice president of Ashland Inc. and president of Ashland Specialty Chemical. James J. O'Brien, Ashland Inc. chairman and chief executive officer (CEO), said the appointment is effective Dec. 4.
Mr. Cappeline, a former Ashland executive, replaces James A. Duquin, a 32-year veteran, who announced his retirement on Nov. 25. Mr. O'Brien said, "Gary returns to us extremely well qualified in chemical markets, strategic planning, financial management, operations, and business development. Gary and I share the same strategic view for Ashland Specialty Chemical: to be a high performance organization by strengthening our position in our chosen markets. As Gary rejoins Ashland, he will bring with him valuable experience from Bear Stearns Merchant Bank, Allied Signal, and Engelhard Corp."
Mr. Cappeline first joined Ashland Inc. in 1974, working in various positions of increasing responsibility until he was named a group vice president in the specialty chemicals business in 1993. He was responsible for significant growth of Ashland Specialty Chemical. In 1997, Cappeline left Ashland to join Engelhard Corp., where he served as Group Vice President, Pigments and Additives. He was subsequently named president of AlliedSignal Specialty Chemicals, where he worked for Allied Signal's Chairman and CEO, Larry Bossidy. Most recently, he has worked as a chemical industry partner at Bear Stearns Merchant Bank.
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