BETHESDA, Md., Oct 22, 2003 (BUSINESS WIRE) -- Dennis Spurgeon, executive vice president and chief operating officer of USEC Inc. (NYSE:USU), has announced his decision to retire as of November 30, 2003.
Spurgeon has led USEC's successful effort to launch its next generation American Centrifuge program and was instrumental in improving the profitability of the Company's uranium enrichment business.
In making his announcement on the eve of his 60th birthday, Spurgeon noted that USEC's operations have been strengthened, the centrifuge development program is ahead of schedule and a strong management team is now in place to continue these efforts.
"I am proud to have launched the American Centrifuge program that will define uranium enrichment in the United States for the next 50 years and helped to put in place our cost-cutting program. With these foundations established, I will leave the Company in capable hands and I look forward to its successful future," Spurgeon said.
The Board of Directors and the entire management team are grateful for the many substantial contributions Spurgeon has made to USEC.
USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants.
SOURCE: USEC Inc.
USEC Inc. Charles Yulish, 301-564-3391 or Steven Wingfield, 301-564-3354