ENGLEWOOD, Colo., May 06, 2016 (GLOBE NEWSWIRE) -- Innospec, Inc. (NASDAQ:IOSP) today announced that Martin M. Hale has retired as a Director of the company at its Annual General Meeting on May 4, 2016. Mr. Hale had been a Director of Innospec, Inc. since its original spin-out from the Great Lakes Chemical Company in 1998, of which he was Non-Executive Chairman. During much of that time he also undertook the critical role of Chairman of the Audit Committee. M. C. "Bud" Blackmore, Chairman of Innospec Inc said "Since 1998, Innospec has been transformed into a thriving and innovative global specialty chemical company. Martin has been instrumental in this transformation combining his financial acumen with insightful business contributions. Martin's passion for Innospec has shone through at all times and the Board wish him well for the future." Patrick S. Williams, President and CEO added "It has been a privilege to work with Martin, whose Chairmanship of the Audit Committee has helped guide our financial strategy. He leaves us in a strong position, with little debt, a balanced and growing portfolio of businesses and a well defined strategy we continue to execute successfully against. On behalf of all Innospec employees I'd like to thank Martin for his tireless commitment to the company and support he has shown over the last 18 years." As previously announced, Mr. Hale will be succeeded on the Board and the Audit Committee by David Landless, whose appointment was confirmed by shareholders at the AGM. About Innospec Inc. Innospec Inc. is an international specialty chemicals company with approximately 1300 employees in 20 countries. Innospec manufactures and supplies a wide range of specialty chemicals to markets in the Americas, Europe, the Middle East, Africa and Asia-Pacific. The Fuel Specialties business specializes in manufacturing and supplying the fuel additives that help improve fuel efficiency, boost engine performance and reduce harmful emissions. This business also contains Oilfield Specialties which provides specialty chemicals for oil & gas drilling and production operations. Innospec's Performance Chemicals business provides effective technology-based solutions for our customers' processes or products focused in the Personal Care and Polymers markets. Innospec's Octane Additives business is the world's only producer of tetra ethyl lead.