Solutia names new top execs as CEO, CFO retire

By Jeff Pines

Washington, May 5 - Solutia Inc. said Jeffry Quinn will become chief executive officer and president, replacing John Hunter as CEO. Hunter will retire at the end of the month. Quinn is the St. Louis chemical company's general counsel and chief restructuring officer.

James Sullivan, corporate controller, will replace Robert Clausen, who is also retiring, as chief financial officer.

Paul Hatfield, a member of Solutia's board since 1997, will become non-executive chairman of the board. Hunter has been chairman and CEO since 1999.

Luc De Temmerman, general manager of Solutia's performance products division, will become chief operating officer.

Solutia filed for Chapter 11 on Dec. 17, 2003 with the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 03-17949.

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