- A day after announcing long-time CFO/vice chairman James Flaws is stepping down and would be replaced as CFO by controller/accounting chief Tony Tripeny, Corning (GLW +0.3%) announces corporate development chief Lawrence McRae will be its new vice chairman.
- McRae, who now also has the title of corporate development officer, will "continue to lead the company’s corporate development function, focusing on strategic approaches to business development including mergers and acquisitions." CEO Wendell Weeks remains executive chairman.
- Also: Corning has named Jeffrey Evenson, formerly its operations chief off staff, the company's chief strategy officer. He'll now "oversee the corporate strategy and corporate communications functions and a new center of excellence for advanced analytics."
- Corning is up modestly following the announcements. Many other Apple suppliers aren't so lucky.