DIC Appoints New Sun Chemical Board Chairman
PARSIPPANY, N.J.—Dainippon Ink & Chemicals (DIC), Sun Chemical Corporation's parent company, announced today that based on the successful progress of integrating the management of DIC and Sun Chemical, Mr. Wes Lucas was able to hand over the Chairman position to Mr. Naoki Tsuji with effect from February 15, 2006. As a result, from February 15, 2006, Mr. Tsuji became Chairman of Sun Chemical, and Mr. Lucas resigned from the Board. Sun Chemical and DIC wish to thank Mr. Lucas for his leadership and positive impact during his tenure as
Chairman of Sun Chemical
DIC elected Tsuji as Vice Chairman of the Board on December 31, 2005. Tsuji, who has had a long and distinguished career at DIC, was most recently President, DIC Logistics. He will serve as non-executive Chairman. Dr. David Hill remains Sun Chemical Corporation's CEO and President.
DIC has developed a strategy to gain significant synergies by integrating the management of DIC and Sun Chemical's operations and more closely coordinating their global management structure. This will create significant benefits in terms of better serving customers and reducing costs.