diff --git a/CMakeLists.txt b/CMakeLists.txt
index ca5fb555..5e397a85 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -21,28 +21,17 @@ set(IMATH_VERSION_RELEASE_TYPE "-dev" CACHE STRING "Extra version tag string for
 set(IMATH_VERSION ${Imath_VERSION})
 set(IMATH_VERSION_API "${Imath_VERSION_MAJOR}_${Imath_VERSION_MINOR}")
 
-# Library/shared-object version using libtool versioning policy.
-# See https://www.gnu.org/software/libtool/manual/html_node/Updating-version-info.html
+# The SOVERSION (i.e. numerical component of SONAME) tracks the ABI
+# version. Increment this number whenever, and only when, the ABI changes in
+# non-backwards-compatible ways.
 #
-# Library API version (CMake's library VERSION attribute) is of the
-# form CURRENT.REVISION.AGE; the CMake SOVERSION attribute corresonds
-# to just CURRENT. These produce a .so and a symlink symlink, e.g.:
-# libImath-3_1.so.29 -> libImath-3_1.so.29.0.0
-#                 ^                     ^  ^ ^
-#                 |                     |  | |
-#                 CURRENT               |  | AGE
-#                                       |  REVISION 
-#                                       CURRENT
-# When updating:
-#   1. no API change: CURRENT.REVISION+1.AGE
-#   2. API added:     CURRENT+1.0.AGE+1
-#   3. API changed:   CURRENT+1.0.0
-#
-set(IMATH_LIBTOOL_CURRENT 29)
-set(IMATH_LIBTOOL_REVISION 0)
-set(IMATH_LIBTOOL_AGE 0)
-set(IMATH_LIB_VERSION "${IMATH_LIBTOOL_CURRENT}.${IMATH_LIBTOOL_REVISION}.${IMATH_LIBTOOL_AGE}")
-set(IMATH_LIB_SOVERSION ${IMATH_LIBTOOL_CURRENT})
+# The OpenEXR project policy is to append the library version 
+# "major.minor.patch" to the SONAME to form the real shared library name.  
+# For example, in "libImath.so.31.3.2.0", "libImath.so.31" is the SONAME
+# and ".3.2.0" identifies the corresponding library release.
+
+set(IMATH_LIB_SOVERSION 30)
+set(IMATH_LIB_VERSION "${IMATH_LIB_SOVERSION}.${IMATH_VERSION}") # e.g. "30.3.2.0"
 
 # ImathSetup.cmake declares all the configuration variables visible
 # in cmake-gui or similar and the rest of the global
diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index fb5bf998..84acbb02 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -10,8 +10,7 @@ explains our contribution process and procedures:
 * [Legal Requirements](#Legal-Requirements)
 * [Development Workflow](#Development-Workflow)
 * [Coding Style](#Coding-Style)
-* [Versioning Policy](#Versioning-Policy)
-* [Creating a Release](#Creating-a-Release)
+* [Versioning Policy and Release Process](#Versioning-Policy-and-Release-Process)
 
 Imath is a sub-project of
 [OpenEXR](https://github.com/AcademySoftwareFoundation/openexr) and
@@ -316,7 +315,7 @@ library.
 
 The test should should be run, via:
 
-    make test
+    % make test
 
 before submitting a pull request.
 
@@ -422,28 +421,9 @@ For public APIs, use Doxygen-style comments (start with `///`), such as:
         float foo;  ///< Doxygen comments on same line look like this
     }
 
-## Versioning Policy
+## Versioning Policy and Release Process
 
-Imath uses [semantic versioning](https://semver.org), which labels
-each version with three numbers: ``major.minor.patch``, where:
-
-* ``major`` - indicates incompatible API changes
-* ``minor`` - indicates functionality added in a backwards-compatible manner
-* ``patch`` - indicates backwards-compatible bug fixes 
-
-## Creating a Release
-
-To create a new release from the ``main`` branch:
-
-1. Update the release notes in ``CHANGES.md``.
-
-   Write a high-level summary of the features and
-   improvements. Include the summary in ``CHANGES.md`` and also in the
-   Release comments.
-
-   Include the log of all PR's included beyond the previous release. 
-       
-2. Create a new release on the GitHub Releases page.
-
-3. Tag the release with name beginning with ``v``', e.g. ``v2.3.0``.
+Imath follows the same policy and release process at OpenEXR. See the
+OpenEXR
+[CONTRIBUTING.md](https://github.com/AcademySoftwareFoundation/openexr/CONTRIBUTING.md) for the details.