Coincident with Bevis’ appointment, James Wilson, currently Xerium’s lead director, has been appointed the company’s chairman of the board. Wilson joined the Xerium board of directors in June 2010 and has served on the Compensation and Nominating committees since that time. He is a principal at Carl Marks Management Company, LLC, an investment firm, which is a significant shareholder of Xerium stock. As a consequence of the separation of the chairman and CEO roles, the board of directors will no longer have a lead director.
As previously announced in December 2011, Stephen Light, Xerium’s chairman, CEO and president, resigned from his executive and board positions coincident with the appointment of Bevis and Wilson. Light will remain a non-executive employee of the company to facilitate the executive transition until his retirement in February 2013.