United CFO to move to Nalco

By Dow Jones Newswires
Posted Sep. 30, 2010 at 8:48 a.m.

Water-treatment company Nalco Holding Co. on Wednesday said Kathryn Mikells would join the company as chief financial officer after United Airlines and Continental Airlines Inc. complete their planned merger.

Mikells is currently CFO of United Airlines’ parent company, UAL Corp., and was initially appointed to that title in August 2008. Prior to being named CFO, Mikells served as vice president of investor relations for United. She first joined United in 1994 as a financial analyst.

Nalco Chairman and Chief Executive Erik Fyrwald said Mikells’s financial leadership will complement the company’s existing team and support “robust and rapid analysis and decision making.” Nalco said Mikells was “widely credited with strengthening UAL’s financial position.”

Mikells will succeed Brad Bell, who in May announced he would retire from Nalco by the end of the year. Bell was Nalco’s CFO for seven years.

Nalco is expected to benefit from economic improvements over the next few years, which will boost industrial demand for water as well as lift energy costs, further stressing water-scarce regions. The company has invested heavily in international markets, including China, India, Russia and Brazil, as it positions itself for expected growth in those regions.

In July, the company reported it swung to a second-quarter profit on better-than-expected sales growth and higher margins.

Nalco’s shares closed down 1.1% to $25.23 on Wednesday and were inactive in after-hours trading.

Read more about the topics in this post:

Companies in this article


Read more about this company »

UAL Corp.

Read more about this company »

One comment:

  1. sara Sep. 30, 2010 at 7:06 pm

    UA’s loss…