Corning Inc. has appointed John A. Canning, Jr.,
co-founder and chairman of Madison Dearborn Partners, LLC, (MDP) to the
company's board of directors, effective immediately. The board determined that
Canning qualifies as an independent director. In addition to his general
responsibilities as a director, he will also serve on the board's finance and
audit committees.
Canning will hold office until Corning's annual meeting of shareholders on
April 28, 2011, at which time he will stand for re-election. His appointment
brings the number of Corning
directors to 15; the size of the board has ranged from 13 to 18 directors since
1990.
Canning brings extensive knowledge of finance and private
equity investment to Corning’s
board. He spent 24 years with First Chicago Corp., most recently as an
executive vice president of the First National Bank of Chicago and president of First Chicago
Venture Capital, prior to co-founding Madison Dearborn Partners in 1992. He
served as MDP’s CEO from 1992 until assuming his current position as chairman
in 2007.
For more
information, visit
www.corning.com.
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