Celanese Corporation (NYSE:CE), a global chemical and specialty materials company, has recently made significant changes to its leadership team. According to a recent Form 8-K filing with the Securities and Exchange Commission, Todd Elliott has been appointed as Senior Vice President, Engineered Materials, effective February 3, 2025. Elliott will be taking over from Thomas Kelly, who will be stepping down on January 31, 2025, and will aid in the transition process until March 10, 2025.
The Company intends to enter into a separation agreement with Mr. Kelly, outlining severance benefits in alignment with the Company’s Designated Roles Member Severance Benefits Plan. The specifics of this agreement will be disclosed in detail in the Company’s upcoming Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.
CEO Scott Richardson expressed confidence in Elliott’s industry acumen, attributing his success to a unique blend of knowledge and experience. This move is seen as a strategic decision to enhance operational efficiency, bolster the Company’s competitive stance, and drive growth and profitability.
Acknowledging the contributions of outgoing executive Thomas Kelly, Richardson praised his service to Celanese over the last six years and highlighted his role in ensuring a smooth leadership transition.
In alignment with these leadership changes, Celanese aims to fortify its competitive position by reducing costs, focusing on deleveraging its balance sheet, and fortifying its capital structure. The Company’s proactive efforts are intended to position Celanese for sustained growth and value creation for shareholders.
Todd Elliott’s return to Celanese signifies a reinforcement of the Company’s commitment to leveraging industry expertise and experience to navigate challenges and seize opportunities in the evolving chemical and materials sector.
The full press release can be accessed as Exhibit 99.1 attached to the Form 8-K filing.
This article represents a summary of the recent developments within Celanese Corporation as per the SEC filing.
**About Celanese**
Celanese is an industry leader in producing chemistry-based materials solutions for a wide array of industries and consumer applications. The Company is dedicated to sustainable practices and creating value for stakeholders through responsible management of materials and development of sustainable products.
**Forward-Looking Statements**
This release may contain forward-looking statements that are subject to various risks and uncertainties. Actual results may differ materially due to factors beyond the Company’s control. For a detailed discussion of risks and uncertainties, refer to the Company’s filings with the Securities and Exchange Commission.
**Contact Information**
For Investor Relations, contact Bill Cunningham at +1 972 443 4730 or email [email protected]. For Global Media Relations, contact Brian Bianco at +1 972 443 4400 or email [email protected].
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Celanese’s 8K filing here.
Celanese Company Profile
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.
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