Market Overview

Lydall Announces Leadership Transition in its Performance Materials Business


MANCHESTER, Conn., May 26, 2020 (GLOBE NEWSWIRE) -- Lydall, Inc. (NYSE:LDL) today announced that Ashish Diwanji has been named President, Lydall Performance Materials, effective June 5, 2020.  Dr. Diwanji will be replacing Paul A. Marold, who is departing Lydall to pursue an alternative opportunity.

Dr. Diwanji recently joined Lydall as Senior Vice President, Innovation and Chief Technology Officer, focusing on advancing product-line rationalization and maximizing strategic technological development across the three business segments.  Prior to joining Lydall, Dr. Diwanji led the product investment strategy and was the Chief Technology Officer for the Consumer Solutions division of U.S. Steel (NYSE:X).  Before joining U.S. Steel, he spent nearly 20 years at Owens Corning with his last role being the Vice President of Innovations for their composites business.

Sara A. Greenstein, Lydall President and CEO, said, "Ashish's demonstrated product innovation leadership and broad industry experience give him the ideal skill set to lead Lydall's Performance Materials business segment.  These skills will complement Performance Materials decades of leadership in filtration to accelerate product innovation and commercialization opportunities."

"I am thrilled to lead the Performance Materials team," said Diwanji.  "My immediate focus will be to leverage our deep knowledge of filtration in the manufacture and development of key solutions in the fight against the COVID-19 pandemic.  By leveraging our material science, engineering and application expertise, global manufacturing capabilities, and exceptional employees, we will continue to create highly engineered specialty materials that add value for our customers."

Ms. Greenstein added, "I want to recognize Paul for his leadership of the Performance Materials business.  His knowledge of the filtration industry, his commercial focus, and strategic and operational skills were key elements in the growth of the Performance Materials segment over the past four years."

Lydall, Inc. is a New York Stock Exchange listed company, headquartered in Manchester, Connecticut with global manufacturing operations producing specialty engineered products for the thermal/acoustical and filtration/separation markets.  For more information, visit Lydall® is a registered trademark of Lydall, Inc. in the U.S. and other countries.

For further information:
Brendan Moynihan
Vice President, Financial Planning & 
Investor Relations
Telephone 860-646-1233 
Facsimile 860-646-4917

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