text: autonomous, decentralized businesses with strong brands 
  
  focused on distinct markets. 
  
  Important to our company’s success, is a strong Board 
  
  of Directors who bring their individual skills, knowledge, and 
  
  Stan A. Askren  experience to our company. Their involvement, independence, 
  
  and integrity provide the ongoing foundation for effective gov-  P R E S I D E N T 
  
  ernance and corporate oversight for you, our shareholders. 
  
  This year we recognize retiring directors Lorne R. 
  
  Waxlax, Robert W. Cox, and M. Farooq Kathwari. We thank 
  
  them for their dedication. We are also pleased to welcome 
  
  Joseph Scalzo, President, Personal Care Products, The Gillette 
  
  Company, to our board. 
  
  Our CEO succession process is progressing smoothly. 
  
  The appointment of Stan Askren as President of HON 
  
  INDUSTRIES and as a member of the Board of Directors, 