Valhi, Inc. announced on December 12, 2022, Robert D. Graham, chief executive, provided notice to the company of his retirement, effective as of December 31, 2022, as chief executive. Following such retirement notice of Mr. Graham, the company’s board of directors took action to elect Michael S. Simmons as chief executive of the company, effective as of January 1, 2023, and to reduce the size of the board from eight to seven members upon Mr. Graham’s retirement as a director. Mr. Simmons, age 51, has served as a director and president of the registrant since June 2022.

He previously served as the registrant’s senior vice president, finance from 2021 to June 2022 and as its vice president and chief accounting officer from 2019 to 2021. He also currently serves as a director and executive vice president of CompX, as executive vice president, finance of Kronos Worldwide, as executive vice president of NL, and as senior vice president, finance of Contran. Beginning January 1, 2023, he will serve as a director, vice chairman of the board, president and chief executive officer of the registrant; as a director and vice chairman of the board of Kronos Worldwide, NL and CompX; and as a director, president and chief executive officer of Contran.

Mr. Simmons has served in accounting and financial positions (including officer positions) with various companies related to the registrant and Contran since 2018. From 1994 to 2018, Mr. Simmons was employed by PwC, most recently as a managing director.