NORTHBROOK, Ill. - June 18, 2010: Underwriters Laboratories (UL), one of the world's leading product safety testing and certification organizations, announced that Stephen C. Coley has been elected chairman of UL's board of trustees.
Coley succeeds Fred Marcon, who has been chairman since 2002 and is retiring from UL's board after 17 years of service.
"We thank Fred for the guidance he has provided for nearly two decades and look forward to the insight and leadership Steve will offer as chairman of UL's board of trustees," said Keith Williams, UL president and CEO. "His extensive understanding of corporate strategy, growth management and the ever-increasing needs of the global marketplace make him an excellent successor to Fred Marcon."
"It is an honor to have been chosen as chairman of a company committed to facilitating technological advancement while addressing public safety concerns," said Coley, who has been an active member of UL's board since 2004. "I look forward to helping guide UL's growth strategy and continue to expand upon the proud tradition of providing global market access with authority and integrity."
As Director Emeritus of McKinsey & Company, a global management consulting firm, Coley has led a wide variety of business strategy efforts for technology industry clients and oversaw the firm's corporate growth practice.
He is also co-author of The Alchemy of Growth, an international best-selling management book, and serves on the boards of directors of Dycom Industries and Flagstone Reinsurance Holdings Ltd., as well as the board of visitors of Duke University Pratt School of Engineering.
Mr. Coley received an M.B.A., with distinction, from Harvard Business School, where he was named a Loeb Fellow in finance. He has a B.S. in electrical engineering from the Duke University Pratt School of Engineering and served in the U.S. Navy for six years in the naval reactors program.