Valspar News

APR-28-2004

Valspar Announces Key Executive Promotions

MINNEAPOLIS, MINNESOTA - The Valspar Corporation (NYSE-VAL), a global leader in the paint and coatings industry, announced today that William L. Mansfield has been named Executive Vice President and Chief Operating Officer, effective immediately. Mr. Mansfield will be responsible for directing all business groups.

Steve Erdahl has been named Executive Vice President - Coatings, assuming responsibility for leading the Packaging, Coil, General Industrial and related industrial coatings businesses.

Gary Hendrickson has been named Group Vice President Global Wood Coatings and President Asia Pacific; Don Nolan has been named Group Vice President Global Packaging Coatings and Michael Brandt has been named a corporate Vice President and President Valspar Europe.

Mr. Mansfield joined Mobil Chemical in 1977 and Valspar in 1984. He has spent the majority of his career leading Valspar's packaging coatings business to its current position as the premier global supplier of food and beverage-can coatings. In 2000, he assumed additional responsibility for leading Valspar's architectural coatings business. Mr. Mansfield has an undergraduate degree from Drexel University and an MBA from Lehigh University.

Mr. Erdahl joined Valspar in 1974 and has spent the majority of his career leading Valspar's industrial coatings business. Mr. Erdahl was instrumental in leading the acquisition and integration of Lilly Industries into Valspar.

Mr. Hendrickson joined Valspar in 1994 and was named President Asia Pacific and corporate Vice President in 2001. Mr. Hendrickson has a Bachelors Degree from the University of Connecticut and an MBA from Harvard University.

Mr. Nolan joined Valspar in 1996 and was named corporate Vice President for Packaging Coatings - Americas in 2001. Mr. Nolan has a BS Degree from the University of Michigan; an MS in Mechanical Engineering from Rensselaer Polytechnic Institute and an MBA from the University of Michigan.

Mr. Brandt joined Valspar in 1992 and was named President Valspar Europe in 2001. Mr. Brandt has a Bachelors Degree from California Polytechnic State University and an MBA from the Wharton School - University of Pennsylvania.

Commenting, Chairman and Chief Executive Officer Rich Rompala stated, "these promotions recognize the strength of our senior management team and continue to position Valspar for future growth and operational excellence, reinforcing Valspar's mission to become the best coatings company in the world."

For further information, contact Deborah D. Weiss, Vice President and Treasurer at
612-375-7302.

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