Lubrizol Corp. disclosed yesterday that President and Chief Executive Officer James L. Hambrick has been diagnosed with testicular cancer and was to begin yesterday to undergo treatment. The company added that Hambrick has excellent odds of recovery and is expected to maintain his day-to-day activities with Lubrizol.
I have elected to pursue a well proven chemotherapy program, and I am extremely confident in my outlook, the 49-year-old said in a news release. My physicians have advised me to expect a full recovery by the end of the summer.
Hambrick joined Lubrizol in 1978 and held a variety of posts before being named to succeed William G. Bares as president in January 2003. He added the title of chief executive officer when Bares retired from that post five weeks ago and has been anointed to replace Bares as board chairman at the end of this year.
Lubrizol said Hambricks cancer is still in its early stages and that doctors give him a 95-percent chance of complete recovery with the course of treatment he has chosen, which includes chemotherapy. The company reiterated plans stated previously for Bares to work with Hambrick leading up to the handover of the board chairmanship.
Lubrizol is based in Wickliffe, Ohio, and is the worlds largest supplier of lubricant additive packages.