Naperville, IL, October 7, 2003 – William H. Joyce, PhD., was today named as Chairman and Chief Executive Officer of Nalco Company (“Nalco”), the leading worldwide water treatment and process chemicals and services company, by the Investor Group that is acquiring the company. The appointment will take effect on completion of the transaction.
The Investor Group, which, as previously announced, has entered into a definitive agreement to acquire Nalco from Suez S.A. in a $4.2 billion transaction, includes The Blackstone Group, Apollo Management, L.P., and Goldman Sachs Capital Partners.
In a joint statement, the Investor Group said, “We are delighted and fortunate to have an individual of Dr. Joyce’s capabilities, experience and track record of value creation to head Nalco. He is highly regarded throughout the chemical industry. We are certain that his unique professional and management skills will prove immensely valuable. Nalco is an innovative company with a widely recognized brand serving 60,000 customers in 130 countries. Dr. Joyce is well suited to lead Nalco at this exciting stage in its development and to assure the realization of the company’s full potential. Combined with existing management and today’s separate announcement of the Company’s new Chief Financial Officer, Nalco has an experienced, worldclass leadership team.”
Dr. Joyce joined Hercules Inc. in 2001 as Chairman and CEO following a distinguished career with Union Carbide where he was named Chief Executive Officer in 1995 and Chairman of the Board in 1996. Upon Union Carbide’s merger with The Dow Chemical Company in 2001, he was named Vice Chairman of Dow Chemical.
He is a trustee of the Universities Research Association, Inc., and Co-Chairman of the Council of Government-University-Industry Research Roundtable of the National Academy of Sciences. Dr. Joyce also serves on the board of CVS Corporation.
Dr. Joyce holds a BS degree in Chemical Engineering from Penn State University and an MBA and PhD from New York University. He received the National Medal of Technology Award in 1993 for his involvement in the creation of a breakthrough process for making polyethylene. He has also been awarded the Plastics Academy’s Industry Achievement and Lifetime Achievement Awards as well as the Society of Chemical Industry’s Perkin Medal Award. He is a member of the National Academy of Engineering.