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GenCorp Names New President for Vehicle Sealing Unit

24 January 2000

GenCorp Names New President for Vehicle Sealing Unit

    SACRAMENTO, Calif., Jan. 24 -- GenCorp Inc. has
appointed automotive industry veteran Joseph M. Gray as president of its
Vehicle Sealing business, effective January 24, 2000. Gray replaces
Robert L. Calder, president of the division since September 28, 1998, who is
retiring.
    Gray will focus on accelerating margin improvement at Vehicle Sealing,
headquartered in Farmington Hills, Mich., by integrating common, more
effective practices in all plant operations. This should lead to reduced costs
and enhanced quality, delivery and waste management.
    Gray joins GenCorp after serving as chief operating officer for automotive
supplier Peregrine Inc. (Southfield, Mich.), where he co-developed and
successfully implemented strategies which reduced costs and resulted in a more
profitable corporation. He also introduced new sales strategies that increased
sales by more than $30 million.
    "Joseph brings 25 years of automotive business and management expertise to
GenCorp Vehicle Sealing, including an impressive track record of achieving
financial goals and improving the profitability of automotive business units,"
said Bob Wolfe, GenCorp chairman and chief executive officer.
    Gray was president of antilock braking systems and wheel end products for
Bosch Braking Systems Corp./Allied Signal Inc. (Farmington Hills, Mich.) until
1997. During his tenure at Allied, he created a more customer-focused sales
force, implemented a new global business philosophy, reduced measurable
variable costs by over 35 percent and managed development of a new ABS system
in just six months.
    Previously, as president of Bundy North America for TI Group, PLC
(London), Gray exceeded profit and cash objectives by 13 percent on sales
volumes that were six percent higher than plan, and he created and implemented
a team-focused quality improvement process.
    Gray also has held a variety of posts with other automotive businesses
during his career, most notably several executive and management positions
with Varity Corp./Kelsey-Hayes Company (Toronto).
    Gray has a bachelor's degree in aviation engineering from Western Michigan
University.
    GenCorp is a $1 billion in sales company, operating primarily in the
aerospace and defense, pharmaceutical fine chemicals and automotive
industries. GenCorp's Web site is at http://www.gencorp.com.