GRANDVILLE, Mich.--July 28, 2003-- X-Rite, Incorporated announced today that Mary E. Chowning has joined the Company as Vice President, Chief Financial Officer and Secretary. She replaces Duane Kluting who had served in the position for 11 years. Kluting's decision to leave the Company was well planned and in line with his personal goals to remain active in the West Michigan business community.
"Over the last eleven years, Duane has focused on the bottom line and built a strong financial organization," said X-Rite's CEO, Michael C. Ferrara. "Beyond his financial responsibilities, he has been instrumental in establishing an infrastructure at X-Rite that has enabled us to become a leader in the many markets we serve. On behalf of the Board of Directors and our employees, I wish him the very best and brightest future."
"I am very pleased to announce the appointment of Mary Chowning as X-Rite's new Vice President, Chief Financial Officer, and Corporate Officer," Ferrara continued. "She is a seasoned financial executive with broad-based public accounting and corporate finance experience - areas essential to X-Rite's global business. Mary will have a significant impact as we strive to create growth opportunities and corporate value for our shareholders. We are pleased to have such an outstanding and accomplished executive joining our Leadership Team."
Prior to joining X-Rite, Chowning was Co-founder, General Partner and Chief Financial Officer for the Wind River Environmental Companies. Wind River is a large non-hazardous residential and commercial liquid waste hauler in the United States. Prior to Wind River, she spent fourteen years in public accounting with Arthur Andersen. At Arthur Andersen she held various positions of increasing responsibility, serving public and private clients in manufacturing, consumer products, technology and various service industries and was admitted as a partner in 1996.
Chowning is a graduate of the University of California where she received a Bachelor of Arts in Economics. She is a Certified Public Accountant in both Massachusetts and California and a member of the American Institute of CPA's. She has relocated to Grand Rapids from Boston.
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