SFO of the Year: Lamar Chambers Managing a Difficult Transformation

Chambers: CFO role is evolving, expanding. When Lamar Chambers took over as CFO of Ashland in May 2008, he was thrown right into the fire. In July 2008, Ashland announced its $3.3-billion acquisition of Hercules, the largest deal in Ashland’s history. The deal would reposition as a large specialty chemical company what had been an oil refiner with major positions in road construction and chemicals a mere five years prior. Just two months later, Lehman Brothers collapsed, leading to the most severe economic crisis in Chambers’s lifetime—or the...

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