Ashland Inc. Completes New Management Team

COVINGTON, Ky., Nov 14, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Ashland Inc. (NYSE: ASH) today unveiled a new management structure, announced by Chairman and Chief Executive Officer James J. O'Brien, reflecting the company's just-completed acquisition of Hercules Inc.

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"This is an experienced and talented management team that blends the best of leadership from within Hercules and Ashland," said O'Brien. "In addition to generating stronger profits and cash flows, the team's priority will be to lead the combined company to its full potential as a global specialty chemicals company."

    The new management team announced by O'Brien is as follows:

    Lamar M. Chambers, senior vice president and chief financial officer;
    Robert M. Craycraft, president, Ashland Distribution;
    Susan B. Esler, vice president, Human Resources and Communications;
    Theodore "Ted" Harris, president, Global Supply Chain; Environmental,
     Health and Safety (EH&S); and Information Technology;
    David L. Hausrath, senior vice president and general counsel;
    Dale M. MacDonald, president, Ashland Asia Pacific, with the
     responsibility to execute Ashland's strategies in China and Asia Pacific;
    Samuel J. Mitchell, president, Ashland Consumer Markets, a position that
     encompasses the Valvoline(R) brand and services;
    John E. Panichella, president, Ashland Aqualon Functional Ingredients;
    Paul C. Raymond III, president, Ashland Hercules Water Technologies;
    Peter H. Rijneveldshoek, president, Ashland Performance Materials; and
    Walter H. Solomon, chief growth officer.

The above-named individuals serve on the company's operating committee. O'Brien, Chambers and Hausrath also comprise the company's executive committee.

"We are very fortunate to be adding John Panichella and Paul Raymond from Hercules to lead our two new commercial units," said O'Brien. "We are equally pleased to welcome Bob Craycraft to the Operating Committee. Bob most recently led the Chemicals line of business within Ashland Distribution and is recognized throughout Ashland for his ability to drive change."

O'Brien also described details regarding Ted Harris' role. "In addition to serving as global Hercules integration leader, Ted will assume a newly created role uniting three functions that are pivotal to the successful integration of our businesses. To achieve the highest levels of operating efficiencies and integration synergies, it's absolutely critical that we quickly and skillfully combine our supply chain, EH&S and information technology platforms."

Reporting to Ted Harris and also serving as members of the Operating Committee will be:

    Rick E. Music, vice president, Enterprise Optimization; and
    Anne T. Schumann, vice president, Acquisition Integration. Schumann,
     formerly vice president of Human Resources and Information Technology for
     Hercules, joins Ashland to lead the integration efforts.

Ashland Inc. (NYSE: ASH) provides specialty chemical products, services and solutions for many of the world's most essential needs and industries. Serving customers in more than 100 countries, it operates through five commercial units: Ashland Hercules Water Technologies, Ashland Performance Materials, Ashland Aqualon Functional Ingredients, Ashland Consumer Markets (Valvoline) and Ashland Distribution. To learn more about Ashland, visit www.ashland.com .

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SOURCE Ashland Inc.

http://www.ashland.com

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