KMG Founder and Chairman David Hatcher Announces Retirement
HOUSTON, October 19, 2012 - Mr. David Hatcher, 69, Chairman
of the Board of KMG Chemicals, Inc. (NYSE:
KMG), has announced his intention to retire as a Director in
December 2012 at the conclusion of his current term, and
therefore will not stand for nomination as a Director of the
company at the upcoming Annual Meeting of Shareholders. Mr.
Hatcher has served KMG as a Director for 25 years.
Mr. Hatcher founded KMG in 1985, and served as CEO of the
company until 2007. In recognition of Mr. Hatcher's many
contributions to KMG, the Board of Directors will appoint Mr.
Hatcher as Chairman Emeritus of the Board upon his
After the Annual Meeting of Shareholders in December, the
Board will select KMG's next Chairman. The Board members
intend to select Mr. Christopher Fraser, 54, a current KMG
Board member, to fill that position. He has been nominated
with the support of Mr. Hatcher and KMG's current Board
Commenting on Mr. Hatcher's retirement, Neal Butler,
President and CEO of KMG, said, "I am honored to say that
David's vision, leadership and drive were essential in
creating the KMG of today. KMG's core values - centered on
safety, integrity, reliability and efficiency - reflect
David's values and will continue to fuel KMG's success in the
years to come. All of us at KMG sincerely thank David for his
many years of dedication to KMG and wish him the best in his
Mr. Hatcher said, "While difficult to announce retirement
from the company I have been a part of for so many years, I
look forward to spending more time with family and friends. I
have full confidence that KMG will continue to thrive in the
years ahead, and I remain very supportive of KMG, the
company's leadership and its growth strategy." Mr. Hatcher
plans to remain a prominent shareholder of KMG.
KMG Chemicals produces and distributes specialty chemicals in
select markets globally. The company currently operates in
two business segments: Electronic Chemicals and Wood Treating
Chemicals. KMG is the leading U.S. supplier of high purity
electronic chemicals, serving major semiconductor
manufacturers in the U.S., Europe and Asia. KMG is also the
leading U.S. supplier of wood treating chemicals for the
electric power, communications and railroad industries.