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BF Goodrich CFO quits
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August 9, 2000: 4:30 p.m. ET
Chapman leaves for family reasons, Ulrich Schmidt tapped as new CEO
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NEW YORK (CNNfn) - BF Goodrich Co., a maker of aircraft systems and specialty chemicals, on Wednesday said it has named Ulrich Schmidt as its chief financial officer, replacing Laurence Chapman, who plans to leave the company later this year.
Schmidt, 50, currently vice president of finance and business development for the Charlotte, N.C.-based company's Aerospace segment, succeeds Chapman, who decided to leave in order to spend more time with his family.
Chapman will remain with the company through the end of this year to facilitate a smooth transition, with a particular focus on the timely completion of the company's divestiture of its Performance Materials business and the effective redeployment of the proceeds.
Schmidt officially becomes CFO of BF Goodrich (GR: Research, Estimates) on October 1.
"Given the five-month overlap period, the strength of our finance organization and our intent to continue the company's current financial strategies, I am confident that there will be a smooth transition," said David Burner, BF Goodrich's chairman and chief executive, in a statement.
Chapman, 51, joined the company as part of its December 1997 merger with Rohr, Inc. and became CFO in March 1999.
Shares of BF Goodrich dropped 1-11/16, or 4.4 percent, to close at 36-7/8 Wednesday. 
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BF Goodrich
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