Celanese’s leadership changes
In a press release on April 8, Celanese (CE) announced changes in its top leadership. Celanese said that Mark Rohr, its chairman and CEO, will be the executive chairman of Celanese’s board of directors. Lori Ryerkerk will succeed Rohr as the company’s CEO. The new changes will be effective on May 1.
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Ryerkerk has served as the executive vice president of global manufacturing at Royal Dutch Shell. She has also worked at ExxonMobil. Rohr said, “Lori’s extensive experience in leading global operations and managing some of the most complex technologies, engineering, and supply chain systems in the world complement the opportunities before us to advance our rapid growth and continue our global expansion to satisfy our business objectives. Beyond this, Lori is a skilled international leader who is passionate about developing talent in a high-performing inclusive culture. Her leadership capabilities and diverse experience are a perfect fit to what we have built at Celanese. I welcome Lori to the team and look forward to working closely with her to execute on our growth strategy.”
On April 8, Celanese’s stock price fell ~3.0% and closed at $102.61. LyondellBasell (LYB) rose 0.3%, while Westlake Chemical (WLK) and Eastman Chemical (EMN) fell 0.46% and 0.7%, respectively. The broader market S&P 500 (SPY) remained flat with a marginal gain of 0.1%.