Corning Names John Loose CEO

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Corning

(GLW) - Get Report

named John W. Loose chief executive, replacing Roger G. Ackerman, who plans to retire.

Loose, 58 years old, is the company's president and chief operating officer. He will take on his new CEO post Jan. 1. Ackerman will remain chairman until June 21, 2001, after which he will retire from the company.

The technology and networking company, based in Corning, N.Y., also named Wendell P. Weeks president of Corning Optical Communications. Peter F. Volanakis was named president of Corning Technologies. Additionally, Norman E. Garrity, the company's vice chairman, and Charles W. Deneka, executive vice president and chief technology officer, will retire next year.

The company also named Weeks, Volanakis and James Flaws to the board.

Shares of Corning were recently trading up 38 cents, or 0.5%, to $69.50 in

New York Stock Exchange

composite trading.