Eastman Board Appoints Mark Costa CEO Effective January 1, 2014
(Thomson Reuters ONE) -
Jim Rogers to Serve as Executive Chairman
KINGSPORT, Tenn., May 14, 2013 - Eastman Chemical Company (NYSE:EMN) today
announced that the Board of Directors has appointed Executive Vice President
Mark J. Costa President effective immediately and Chief Executive Officer
effective January 1, 2014. The Board also appointed Costa as a Director,
effective immediately, to serve until the Annual Meeting of Stockholders in
2014.
James P. Rogers, 62, will continue to serve as Chairman and Chief Executive
Officer until January 1, 2014, and then will serve as Executive Chairman of the
Board. These actions are the result of the Board's normal succession planning
process.
"Being CEO of Eastman has been a great honor and truly one of the most rewarding
experiences of my life," Rogers said. "I am proud of what the entire Eastman
team has accomplished over the past several years, and I have complete
confidence that the company is well positioned to continue delivering
consistent, superior value to our stockholders.
"I am pleased to pass the reins to Mark and our talented team of executives,"
Rogers said. "Mark is a proven leader who has been instrumental in developing
and executing Eastman's strategic plans for growth. I look forward to my
continued service as Executive Chairman and to working with Mark to ensure a
seamless transition."
"I am honored to have been selected by the Board of Directors to lead Eastman as
the next CEO and as a Director," said Costa. "I personally want to thank Jim for
all that he has done for Eastman and for his incredible example of real
leadership. I especially appreciate the opportunity to continue working with
Executive Vice President Ron Lindsay and the rest of the executive team as
we implement Eastman's growth strategy."
Costa, 46, currently heads the company's Additives & Functional Products and
Advanced Materials segments and is Chief Marketing Officer and has
responsibility for the company's corporate innovation organization. Since
joining Eastman in 2006, he has held a number of executive positions. He has
been instrumental in developing Eastman's growth strategies, has led Eastman's
global supply chain and served as Senior Vice President of the Polymers Group.
Prior to joining Eastman, Costa was a senior partner within Monitor Group's
integrated North American and global client service networks. He played a
crucial role in developing Monitor's techniques in corporate transformations and
portfolio management, and designing client business and marketing capability
building programs. Costa received his bachelor's degree in economics from the
University of California at Berkeley and his MBA from Harvard Business School.
Speaking on behalf of Eastman's Board of Directors, Lead Director
Stephen R. Demeritt said, "Jim has courageously led Eastman through a time of
tremendous change, and we could not be more pleased with what he has
accomplished as CEO. We look forward to his continuing contributions as
Executive Chairman of the Board.
"Eastman is fortunate to have a senior leadership team of incredible breadth and
depth," said Demeritt. "We have tremendous confidence in Mark and the rest of
Eastman's executives to execute the company's plans for growth and take Eastman
to even greater success."
Eastman will host a 30-minute conference call with industry analysts on May
15, 2013, at 9:00 a.m. ET for Jim Rogers and Mark Costa to discuss this
announcement. To listen to the live webcast of the conference call, go to
www.eastman.com/investors. To listen via telephone, the dial-in number is (913)
312-0859, passcode number 7895386. A telephone replay will be available
continuously from 11:00 a.m. ET, May 15, to 11:00 a.m. ET, May 25, at (719)
457-0820, passcode number 7895386.
Eastman is a global specialty chemical company that produces a broad range of
products found in items people use every day. With a portfolio of specialty
businesses, Eastman works with customers to deliver innovative products and
solutions while maintaining a commitment to safety and sustainability. Its
market-driven approaches take advantage of world-class technology platforms and
leading positions in attractive end-markets such as transportation, building and
construction and consumables. Eastman focuses on creating consistent, superior
value for all stakeholders. As a globally diverse company, Eastman serves
customers in approximately 100 countries and had 2012 pro forma combined
revenues, giving effect to the Solutia acquisition, of approximately $9.1
billion. The company is headquartered in Kingsport, Tennessee, USA and employs
approximately 13,500 people around the world. For more information, visit
www.eastman.com.
# # #
Contacts:
Media: Tracy Kilgore
423-224-0498/ tjkilgore(at)eastman.com
Investors: Greg Riddle
212-835-1620/ griddle(at)eastman.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eastman Chemical Company via Thomson Reuters ONE
[HUG#1701852]
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2013 - 22:30 Uhr
Sprache: Deutsch
News-ID 260090
Anzahl Zeichen: 6052
contact information:
Town:
Kingsport
Kategorie:
Business News
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"Eastman Board Appoints Mark Costa CEO Effective January 1, 2014"
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