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OM Group Announces Retirement Plans Of Chief Financial Officer Kenneth Haber

Stocks in this article: OMG

CLEVELAND, June 28, 2011 /PRNewswire/ -- OM Group, Inc. (NYSE: OMG) today announced that Kenneth Haber, the company's chief financial officer, has informed the company of his decision to retire in order to pursue personal interests.  Haber, 60, has served as chief financial officer on a permanent basis since 2006 after joining the company as its interim CFO in 2005. Haber will continue in his current capacity until a successor has been named and transitioned into the role.

"On behalf of the Board of Directors and my fellow colleagues, I want to recognize Ken for his dedicated service and commitment to OMG over the past five years," said Joseph Scaminace, chairman and chief executive officer. "With Ken's guidance and assistance, OM Group was able to instill a rigorous and disciplined planning and budgeting process throughout the organization, as well as create the financial flexibility and strong balance sheet needed to effect our growth strategy. While Ken leaves 'big shoes' to fill, I am confident that OM Group will not miss a beat in its performance or in its zeal to unlock even greater shareholder value thanks, in large part, to the foundation Ken helped us lay."

"It has been a privilege to work with Joe and the team at OM Group, and I thank all of my colleagues for their support and friendship during my time with the company," said Haber. "I have always planned to retire at an age when I was still able to actively enjoy time with my family and a wide range of personal and community interests. Based on the strength of the company's results through first quarter 2011 and its positive outlook as it enters a new era of sustainable growth, I believe now is the right time for the company and for me personally to pursue an orderly transition of the CFO position."

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