Scott Richardson to Become Chief Executive
Officer and Join the Board of Directors
Edward Galante to Become Chair of the Celanese
Board
Lori Ryerkerk to Step Down from the Board and
Her Roles as CEO and President at the End of the Year
Celanese Corporation (NYSE: CE), a global chemical and specialty
materials company, today announced that Scott Richardson, currently
Celanese’s Chief Operating Officer, has been appointed Chief
Executive Officer and will join the Company’s Board of Directors,
effective January 1, 2025. Richardson will succeed Lori Ryerkerk,
who is stepping down as Chairman, CEO and director of Celanese at
the end of the year. Celanese has elected Edward Galante, an
independent director on Celanese’s Board since 2013, as Chair of
the Board, effective upon Ryerkerk’s departure.
Over his two decades of service at Celanese, Scott Richardson
has served in a number of key management roles, including Chief
Operating Officer, Chief Financial Officer and leadership positions
overseeing Celanese’s leading global Engineered Materials (EM) and
Acetyl Chain (AC) businesses. Richardson was intimately involved in
creating and implementing the EM and AC operating models that work
together as a strategic pair to create value.
“It is an incredible honor to be named CEO-elect of Celanese,
and I am grateful to our Board of Directors for entrusting me with
this responsibility,” said Richardson. “Celanese is known for
tenacious execution, even during difficult times, and I am
confident we have all the critical components to create value for
our shareholders, customers, employees and partners. I am fully
committed to driving the changes needed in light of today’s
challenges, including our relentless efforts to improve our cost
structure and drive cash generation. By executing our action plan
and controlling what we can control, we are working to position
Celanese to capitalize on its significant upside potential,
resilient free cash flow and long-term value creation.”
“Coming out of retirement to lead Celanese since 2019 as CEO has
been the true highlight of my career, and I'm proud of what we've
achieved together,” said Ryerkerk. “Scott is a proven executive who
brings deep expertise across the Company’s business and new
perspectives to the CEO role. I look forward to seeing what he
accomplishes as he works with the team to build an even stronger
Celanese.”
“The Board’s appointment of Scott represents the culmination of
a deliberate and thoughtful succession planning process, and we are
pleased to have an executive of Scott’s caliber,” said Kim Rucker,
Lead Independent Director of Celanese’s Board of Directors. “The
Board is looking forward to the long-term success of Celanese under
Scott’s direction.”
Rucker continued, “On behalf of the Board, I also want to thank
Lori for her leadership and significant contributions over the last
five years. With Lori at the helm, Celanese has navigated
challenging macro environments while strengthening its competitive
position. We wish her all the best in her next chapter.”
About Scott A. Richardson
Richardson was named Executive Vice President and Chief
Operating Officer for Celanese Corporation on November 8, 2023,
after serving as EVP & Chief Financial Officer since February
2018, and prior to this was senior vice president of the Engineered
Materials business since December 2015, where he had global
responsibility for strategy, product and business management,
planning and portfolio development, and pipeline management.
Previously, Richardson served as vice president and general manager
of the Acetyl Chain since 2011.
Richardson has progressed through several Celanese roles
including global commercial director, Acetyls; manager of Investor
Relations; business analysis manager, Acetyls; and business line
controller, Polyols and Solvents. He joined Celanese in 2005.
Before joining Celanese, Richardson held various finance,
operational and leadership roles at American Airlines. He earned a
Bachelor of Arts degree in Accounting from Westminster College, and
a Master of Business Administration from Texas Christian
University.
About Edward G. Galante
Ed Galante was elected to the Celanese Board of Directors in
2012. He was previously Senior Vice President and Member of the
management committee of Exxon Mobil Corporation, an international
oil and gas company (2001 – 2006), and Executive Vice President of
ExxonMobil Chemical Company (1999 – 2001). Prior to that, he held
various management positions of increasing responsibility over more
than 30 years with the company.
He serves as an Independent Director at Clean Harbors, Inc., a
leading provider of environmental and industrial services; at
Marathon Petroleum Corporation, a leading, integrated, downstream
energy company; and former Independent Director at Linde plc, a
leading industrial gas and engineering company.
Galante earned a B.S. in civil engineering from Northeastern
University.
About Celanese
Celanese is a global leader in chemistry, producing specialty
material solutions used across most major industries and consumer
applications. Our businesses use our chemistry, technology and
commercial expertise to create value for our customers, employees
and shareholders. We are committed to sustainability by responsibly
managing the materials we create for their entire lifecycle and are
growing our portfolio of sustainable products to meet increasing
customer and societal demand. We strive to make a positive impact
in our communities and to foster inclusivity across our teams.
Celanese is a Fortune 500 company that employs approximately 12,400
employees worldwide with 2023 net sales of $10.9 billion.
Forward-Looking Statements
The information set forth in this Press Release contains certain
“forward-looking statements,” which include information concerning
the Company’s current beliefs, understanding and expectations
regarding the Company's plans, objectives, goals, strategies,
financial performance and other information that is not historical
information. All forward-looking statements are based upon current
expectations and beliefs and various assumptions. There can be no
assurance that the Company will realize these expectations or that
these beliefs will prove correct. There are a number of risks and
uncertainties that could cause actual results to differ materially
from the forward-looking statements contained herein. Numerous
factors, many of which are beyond the Company’s control could cause
actual results to differ materially from those expressed as
forward-looking statements, including those factors addressed in
the Company’s November 4, 2024 earnings press release furnished as
Exhibit 99.1 to the Company’s Items 2.02 and 9.01 Form 8-K dated
November 4, 2024. Any forward-looking statement speaks only as of
the date it is made, and the Company undertakes no obligation to
update any forward-looking statements to reflect events or
circumstances after the date the statement is made.
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version on businesswire.com: https://www.businesswire.com/news/home/20241209362521/en/
Celanese Contacts:
Investor Relations Bill Cunningham Phone: +1 302 999 6410
william.cunningham@celanese.com
Media - U.S. Brian Bianco Phone: +1 972 443 4400
media@celanese.com
Media - Europe Petra Czugler Phone: +49 69 45009 1206
petra.czugler@celanese.com
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