Kaiser Aluminum selects post-emergence board of directors

By Caroline Salls

Pittsburgh, Nov. 4 - Kaiser Aluminum Corp. made progress in its Chapter 11 case Friday as it selected the directors who will serve the company after it emerges from bankruptcy in early 2006, according to a company news release.

The new board was selected by a committee of advisors including management and representatives of principal creditor interests in the Chapter 11 case, and will include George Becker, Carl Frankel, Teresa Hopp, Bill Murdy, Al Osborne, Georganne Proctor, Jack Quinn, Tom Van Leeuwen and Brett Wilcox.

President and chief executive officer Jack Hockema will serve as chairman of the new board.

"This outstanding slate of leaders who will serve as our post-emergence directors represents another critical step toward building our future as a new, financially strong company with an efficient and flexible operating structure, excellent quality products and a loyal, growing customer base," Hockema said in the release.

Lisa Beckerman, chair of the board selection committee and legal adviser to Kaiser's unsecured creditors committee, said in the release: "The post-emergence board will be comprised of a unique set of individuals, each with significant knowledge and experience in areas critical to the success of Kaiser Aluminum.

"Although they come from diverse backgrounds representing top organizations in their respective fields, these future board members share in a vision for the future of this company and its goals for growth and success."

Kaiser, a Houston-based aluminum company, filed for bankruptcy on Feb. 12, 2002 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 02-10429.

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