Corning Chief Financial Officer James Flaws to Retire

By Josh Beckerman 

Corning Inc. Chief Financial Officer James Flaws will retire after 42 years at the glassmaker.

Mr. Flaws joined the company in 1973 and held several roles in its consumer-products group. He was named finance chief in 1999 and added the title of vice chairman in 2002.

Tony Tripeny, who has been senior vice president, corporate controller and principal accounting officer since 2009, will become chief financial officer effective Sept 1.

Corning serves a variety of markets, including consumer electronics, telecommunications and life sciences. Its products include Gorilla Glass, which is used in iPhones and other devices.

The company said Lawrence D. McRae will become vice chairman after Mr. Flaws retires on Nov. 30. Mr. McRae is currently executive vice president of strategy and corporate development.

Meanwhile, Jeffrey W. Evenson was named senior vice president and chief strategy officer, effective immediately.

RBC Capital raised its rating on Corning in June, citing the coming TV upgrade cycle, accelerating growth in its optical business and strong cash-flow generation. Earlier this month, Corning announced a $2 billion stock-buyback program.

In April, the company said its first-quarter profit rose sharply, though sales in its key specialty-material segment edged up less than expected.

Write to Josh Beckerman at [e-mail]

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