ICS Magazine

Armstrong Announces Leadership Change

July 30, 2003
LANCASTER, Pa., July 30 /PRNewswire-FirstCall/ -- Armstrong World Industries, Inc. today announced that Chan W. Galbato, President and CEO, Armstrong Floor Products, will leave the company to pursue other opportunities. Michael D. Lockhart, Chairman and CEO will assume all responsibilities for Floor Products operations.

This change is driven by a desire to eliminate the holding company philosophy, to reduce overall resources and apply all available resources to increasing the success of the core businesses: floors, ceiling, and cabinets.

"As we approach emergence," said Lockhart, "the Chapter 11 process is placing fewer demands on my time. This allows me to focus more directly on Armstrong's businesses. Chan and I agree that this situation creates a redundancy between our roles.

"In his two years at Armstrong, Chan made significant contributions to the company. He oversaw the integration of Armstrong Wood Products with Armstrong Floor Products, creating one flooring business. He renewed our focus on commercial flooring, where we are currently enjoying good success. Under Chan's leadership, we have also been able to bring about significant cost reductions in our European Flooring operations."