Ssom Armeond

MEMORANDUM

To:

From:

Date:

Re:

File

Michael Riordan

6/1/2004

Succession Plan

Confidential

Assessment of Kenneth Collins and Hugh McCauley—Candidates for Chief Executive Officer

Collins

Competency Area

Technical Skills

Relationships with team

members

Ken’s got a clear edge here,

with his background in

Research & Development and

his knowledge of plastics and

polymers. At the same time,

he does not have a strong

understanding of the

manufacturing and operations

side of the business, which is

increasingly important to

continued to success.

McCauley

Hugh has a better

understanding of

manufacturing and operations.

He also has more direct

experience with our

international operations. I am

confident that Hugh can

handle the operational

aspects of the business, but

wonder whether he will

shortchange R&D in favor of

operational concerns. He has

consistently pressed for

design for manufacturability

criteria, which may not allow

the organization to stay on the

leading edge technically.

Ken’s been around a long

Hugh gets things done,

time, and knows the executive sometimes at the expense of

team well. I spend a lot of time relationships with his team.

running interference between

He railroaded some of the

Ken and Operations. Charles

executive team members

is particularly fond of Ken, as

during the China start-up. At

he and his team are very

the same time, it’s important

to have someone who will

instrumental to the sales

Collins

McCauley

Competency Area

team. He is also well

respected by R&D team

members.

Relationships with Customers

Ken is well respected by our

clients. He’s spent a long time

building those relationships

and understands the value of

getting close to the customer.

Finances

Ken has stayed hands-off

from the financial aspects of

the business for some time.

Age

Ken is already 60 years old.

Promoting Ken is a temporary

solution—he will likely retire

within 5...