CRANBURY, N.J., June 13 /PRNewswire-FirstCall/ -- Innophos Holdings, Inc.(Nasdaq: IPHS), a leading specialty phosphate producer in North America, todayannounced the election of Amado Cavazos to its Board of Directors. Theelection was made effective June 6, 2008 at the annual meeting ofstockholders.
'After an extensive search process, we are very happy to add a directorwith Amado's experience and background in our industry,' said Randy Gress, CEOand Chairman of the Board. Mr. Cavazos will serve as an independent directoron three board committees: Audit, Compensation, and Nominating & CorporateGovernance. His election maintains the Company's compliance with NASDAQlisting standards of a majority independent Board and 100% independentmembership on the required committees.
Mr. Cavazos retired from Du Pont, S.A. de C.V. in 2003 after holdingnumerous management and executive positions. From 1996 to 2003 Mr. Cavazosserved as Director/General Manager of Coatings Businesses for Mexico andCentral America. He was Group Director of Du Pont Mexico from 1993 to 1995and Director of Corporate Planning from 1989 to 1993. During this time herepresented Du Pont on several Boards of Directors including Nylon de Mexico,Tetraetilo de Mexico, Quimica Fluor and Industrias Tecnos. From 1982 to 1986,Mr. Cavazos served as Group Director/General Manager for Du Pont Mexico andfor three of its joint ventures, reporting directly to the Boards of Directorsof those entities: Pigmentos y Productos Quimicos, La Domincia and QuimicaFluor. Mr. Cavazos earned a B.S. in Chemical Engineering from Virginia Techand an M.B.A. from Instituto Technologico de Monterrey. Between 1990 and2003, Mr. Cavazos served as a member and later as Chairman of the Board ofAsociacion Nacional de la Industria Quimica, a chemical industry tradeassociation in Mexico.
Effective June 6, 2008, the composition of the committees is as follows:
Independent Director Audit Compensation Nominating & Governance
Gary Cappeline (Lead) X Chair Amado Cavazos X X X Linda Myrick X Chair Karen Osar Chair X X
The remaining directors consist of Mr. Gress and Stephen Zide, a managingdirector of Bain Capital Investors LLC. Bain Capital remains a 26.3% holderin the Company.
About Innophos Holdings, Inc.
Innophos Holdings, Inc. (www.innophos.com), the holding company for aleading North American manufacturer of specialty phosphates, serves a diverserange of customers across multiple applications, geographies and channels.Innophos offers a broad suite of products used in a wide variety of food andbeverage, consumer products, pharmaceutical and industrial applications.Innophos' market-leading positions derive from its experience and dedicationto customer service and innovation. Headquartered in Cranbury, New Jersey,Innophos has manufacturing operations in Nashville, TN; Chicago Heights, IL;Chicago (Waterway), IL; Geismar, LA; Port Maitland, ON (Canada); andCoatzacoalcos, Veracruz and Mission Hills, Guanajuato (Mexico). 'IPHS-G'
SOURCE Innophos Holdings, Inc.
