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1971 - New directions

New leadership, new directions…

1971 On Nov. 5, Robert Malott is elected president and CEO, effective Jan. 1, 1972. Jim Hait retires as chairman of the board, and is replaced by Benjamin Carter. Other retirees are Jack Pope, Paul Davies, and Honorary Chairman John Crummey, age 93 and with 70 years of service.

1972 Corporate office moves to Chicago. FMC divests unprofitable businesses, including Fiber and Pump divisions.

1973 The corporate identify program is introduced and a striking new trademark is created.

1974 The Chemical and Fiber & Film Group is reorganized and moved from Manhattan to Philadelphia.

1975 An internal audit suggests more emphasis should be placed on developing human resources, and that a new organizational structure is needed to meet future challenges.

1976 McKinsey & Co. conducts an in-depth study of the corporation. The company launches the Good Government Program, in which professional and supervisory employees can make financial contributions to political candidates who take positions reflecting FMC's interests and concerns.

1977 As a result of the McKinsey study, FMC is reorganized and restructured. Ray Tower is named president, and Emiel Nielsen is appointed vice chairman, with both serving as chief operating officers. Establishes Government Affairs office in Washington, D.C. FMC increases ownership in Foret to 91 percent--an additional 41 percent. FMC acquires Marine Colloids, Inc., world leader in the production of carrageenan, a key food ingredients and emulsifier.

1978 FMC becomes the world's second largest producer of hydrogen peroxide.

1980 International sales exceed $1 billion. FMC introduces Marshal, a Furadan analog, to European and Asian markets.

1982 FMC tests solution mining at the Green River, Wyo., plant. Widely used to extract other non-metallic minerals, FMC is the first to attempt it with trona.

1983 In September, top managers meet and identify needs for a stronger focus on customers at every level and across businesses and functions, and to employ and develop FMC's people more effectively. The company adopts an environmental statement, begins major environmental audits of plants and businesses, and resolves to reduce the amount of waste placed in landfills. FMC introduces the Matching Gift Plan that matches dollar-for-dollar employees' gifts to colleges and universities.