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Imation CEO Russomanno To Retire; Lucas Named Successor

OAKDALE, MINN. — Imation’s
board of directors announced
last week that Frank Russomanno,
vice chairman and CEO, will
retire in May. Imation president
and COO Mark Lucas will succeed
Russomanno as president
and CEO.

Russomanno, 62, will step down immediately
following the company’s annual
meeting on May 5. He has served as vice
chairman of Imation since March 2009 and
as CEO since April 2007. He joined Imation
at its spin-off from 3M in 1996.

Russomanno began his career
with 3M in 1973 as a sales coordinator
in New York, and quickly
advanced through a variety of
sales and marketing management
positions. At Imation, Russomanno
held multiple executive
postions, including VP of Imation’s
data storage businesses.
From 2003 to 2007, Russomanno was
COO and also served several months
as the acting CEO, prior to being named
CEO in April 2007.

“I am very proud of what our Imation
people worldwide have accomplished,
not only since our 1996 spin-off, but also
in the short time since we began our transformation
to a brand and product management
company in 2007,” Russomanno
commented. “We have established a
strong foundation for the future and begun
executing Imation’s new strategy to
optimize our legacy storage businesses,
grow our portfolio of brands and products,
and extend into new consumer electronics
and accessories.”

Prior to joining Imation, Lucas served
as chairman and CEO of Geneva Watch
Group. Before that, Lucas was president
and CEO of Altec Lansing.