Valhi, Inc. Announces Board Changes, Effective as of June 1, 2020
March 18, 2020 at 04:23 pm EDT
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On March 13, 2020, Kelly D. Luttmer, executive vice president and chief tax officer of the registrant, provided notice to the registrant that, effective as of June 1, 2020, she will retire as an officer of Valhi, Inc. In connection with her retirement from the registrant, Ms. Luttmer has also provided notice to Kronos Worldwide, Inc. (“Kronos”), NL Industries, Inc. (“NL”) and CompX International Inc. (“CompX”), affiliates of the registrant, that she will also retire as an officer of those companies as of such date. Following such retirements, Ms. Luttmer will continue to be employed by Contran Corporation (“Contran”), the privately-held parent corporation of the registrant, and will continue to serve as executive vice president and chief tax officer of Contran. Following such retirement notice of Ms. Luttmer, the registrant’s board of directors took action, also effective as of June 1, 2020, to: elect Kristin B. McCoy as vice president, tax of the registrant; elect Darci B. Scott as vice president, tax – financial reporting of the registrant; and designate Ms. McCoy and Ms. Scott as executive officers of the registrant. Ms. McCoy, age 47, has served in various tax accounting positions with various companies related to the registrant and Contran since 2003 and currently serves as vice president, tax of Kronos. Beginning June 1, 2020, she will also serve as an executive officer of Kronos as its vice president, tax. Ms. Scott has served in various tax accounting positions with various companies related to the registrant and Contran since 2006 and currently serves as vice president, tax of the registrant. Beginning June 1, 2020, she will also serve as an executive officer of each of CompX and NL as its vice president, tax. Ms. McCoy and Ms. Scott are employees of Contran and will provide their services to the registrant under an intercorporate services agreement between the registrant and Contran. For a description of the intercorporate services agreement, see “Certain Relationships and Transactions” in the registrant’s 2019 proxy statement, which description is incorporated herein by reference. In addition, for a discussion of potential conflicts of interest of officers who serve more than one corporation, see “Certain Relationships and Transactions” in the 2019 proxy statement, which discussion is also incorporated herein by reference.
Valhi, Inc. is primarily a holding company, which operates through its subsidiaries, NL Industries, Inc., Kronos Worldwide, Inc., CompX International Inc., BasicManagement, Inc. and The LandWell Company. Its segments include Chemicals, Component Products, and Real Estate Management and Development. Chemicals segment produces and markets value-added titanium dioxide pigments. Component Products segment manufactures security products used in the postal, recreational transportation, office and institutional furniture, cabinetry, tool storage, healthcare and a variety of other industries. The segment also a manufacture wake enhancement system, stainless steel exhaust systems, gauges, throttle controls, trim tabs and related hardware and accessories for the recreational marine industry. Real Estate Management and Development segment owns real property in Henderson, Nevada. The segment develops certain land holdings for commercial, industrial and residential purposes in Henderson, Nevada.
VALHI, INC. 
