CORNING, N.Y. (AP) _ Corning Inc.'s chairman and chief executive officer was in stable condition Friday following surgery for leg fractures he suffered in a car accident.

James R. Houghton, 57, was struck by a car Thursday night after a meeting of the U.S. Business Council in Colonial Williamsburg, Va.

He underwent surgery for several hours Friday morning at Sentara Norfolk General Hospital for multiple fractures to his right leg, hospital spokeswoman Debbie Myers said.

''The surgery went very well and we expect a full recovery,'' said Dr. Joseph P. Mathey, the company's medical director, who went to Virginia to attend to Houghton.

Williamsburg police Lt. Robert Smith said Houghton and a friend were crossing the street in the middle of the block in a dimly lit area of the restored colonial capital when the accident occurred around 10:45 p.m.

''I guess he was involved in conversation and just didn't see the vehicle,'' Smith said.

Smith said officers determined that the driver, Tori D. Johnson, 19, of Williamsburg, was driving within the 25 mph speed limit. Johnson, a busboy, was not charged.

Houghton was taken first to Williamsburg Community Hospital, then transferred by helicopter to Norfolk Sentara.

Houghton has been chairman and CEO of the glassware, ceramics and fiber optics company in upstate New York since 1983.

''Obviously everyone in Corning is feeling tremendously relieved that Jamie was not hurt more seriously,'' Corning president and chief operating officer Roger G. Ackerman said in a statement.

Houghton is the brother of U.S. Rep. Amory Houghton Jr., a Republican who represents the Corning area.