Cincinnati Bell Elects Kiggen as Chairman; Convergys
Board Members Leave Cincinnati Bell Board To Complete
Spin-Off
Business Wire - January 04, 1999 17:12
CINCINNATI--(BUSINESS WIRE)--Jan. 4, 1999--Cincinnati Bell Inc. (NYSE:CSN) today
announced the election of James D. Kiggen as chairman of its Board of Directors, completing the
restructuring of the board anticipated in the spin-off of Convergys Corporation (NYSE:CVG) from
Cincinnati Bell.
Kiggen replaces Charles S. Mechem, Jr., who, as planned, resigned from the Board effective
December 31, 1998, along with six other Cincinnati Bell directors. The resigning Board members now
constitute the Board of Directors of Convergys, with Mechem as chairman.
In addition to Mechem, the resigning directors are John F. Barrett, Judith G. Boynton, Roger L.
Howe, Steven C. Mason, James F. Orr and Brian H. Rowe.
In addition to Kiggen, the continuing members of the Cincinnati Bell Board of Directors are Phillip R.
Cox, Richard G. Ellenberger, William A. Friedlander, Dr. Robert P. Hummel, John T. LaMacchia,
Mary D. Nelson and David B. Sharrock.
Kiggen, 66, a director of Cincinnati Bell since 1983, is also Chairman of Cincinnati-based Xtek, Inc., a
privately held manufacturer of steel products for heavy industry. He was chief executive officer of Xtek
from 1985 to 1998 and president from 1979 to 1995. He is a director of Fifth Third Bancorp and its
subsidiary, The Fifth Third Bank, and The United States Playing Card Co.
Kiggen said that "On behalf of all Cincinnati Bell shareholders, I want to thank Charlie Mechem and
the members of the new Convergys Board for their devoted service to Cincinnati Bell and thank the
continuing members of the Cincinnati Bell Board for their support. I believe that the shareholders of
both companies will continue to benefit from the guidance, effort and encouragement that these
directors have provided so effectively in the past."
Convergys became a public company effective with its initial public offering of approximately 10
percent of its shares on August 12, 1998. Cincinnati Bell completed the spin-off of Convergys on
December 31, 1998, by distributing the remaining Convergys shares one-for-one on December 31,
1998, to Cincinnati Bell shareholders of record on December 1, 1998.
About Cincinnati Bell
Cincinnati Bell Inc. is an integrated provider of advanced local, long distance, directory, wireless,
Internet, and broadband communications services and equipment to residents and businesses in the
Cincinnati metropolitan area, and in selected other Midwest cities. The company's principal subsidiary
is Cincinnati Bell Telephone, one of the nation's largest independent telecommunications companies
with more than 1 million access lines. Cincinnati Bell Inc. is on the web at www.cinbellinc.com |
