Ferro Corporation announced that its Board of Directors has voted to recommend that shareholders approve the declassification of the Board and other governance practices in furtherance of the company's continuing commitment to serve the long-term interests of all Ferro shareholders. The Board has decided that, at the organizational meeting of the Board of Directors immediately following the 2014 Annual Meeting, the company's President and Chief Executive Officer, Peter T. Thomas, will be appointed to the additional role of Chairman of the Board. In connection with that appointment, William B. Lawrence has agreed that, if re-elected at the 2014 Annual Meeting, he will step down from his position as Chairman of the Board.

The Board also has agreed to appoint Gregory E. Hyland, if re-elected at the 2014 Annual Meeting, as Lead Director and as Chair of the Board's Governance & Nomination Committee. Mr. Hyland has been a member of the Ferro Board since 2009 and a member of the Board's Governance & Nomination Committee since 2010.