STAMFORD, CONN. — An investor group led by New York-based Goldman Sachs Group Inc. has named three people to the 10-member board of Hexcel Corp. under a governance agreement with the Stamford-based structural materials maker.
The group designated James J. Gaffney, Sanjeev K. Mehra and Peter M. Sacerdote as Hexcel directors.
The investor group purchased 14,525,000 Hexcel shares, or about 39 percent of the compannay's outstanding common stock, from Ciba Specialty Chemicals Holding Inc. of Basil, Switzerland, on Dec. 19.
Plans for the deal were announced Oct. 12.
Ciba retained about 3.5 million Hexcel shares, but the company no longer designates directors. Four Ciba-named directors left the Hexcel board. Separately, the Hexcel board added H. Arthur Bellows Jr. as an independent director, succeeding the fourth Ciba designee.