Huntsman Corporation announced that it has appointed David B. Sewell to its Board of Directors. Mr. Sewell currently serves as Chief Executive Officer of WestRock Company, was the Chief Operating Officer of The Sherwin-Williams Company, and brings nearly 15 years of senior leadership and operational experience at major materials companies to the Huntsman Board. Today’s announcement brings Huntsman’s multi-year Board director succession plan closer to completion and follows the announcement of several recent strategic actions the Company has taken to support the financial and operational objectives it outlined at its November Investor Day.
“Since Investor Day when we announced ambitious new financial targets, our Board has continued to oversee a series of significant initiatives to achieve those objectives. As part of a comprehensive strategy to enhance shareholder value, we have launched a strategic review of the Textile Effects Division to advance our focus on portfolio enhancement and implemented an incentive compensation program for all Huntsman officers and vice presidents to closely align their interests with the realization of the Investor Day targets, including margin expansion, cost optimization, and cash flow delivery,” said Peter R. Huntsman, Chairman, President, and CEO. “We are pleased to welcome David to the Huntsman Board. He is a proven operator in the materials and chemicals industries with a strong track record of driving successful integration cost reduction initiatives and profitable growth. We look forward to working closely with him and the rest of our Board to build on our strong momentum.”
Mr. Sewell said, “I am excited to join the Huntsman Board and start working with my fellow directors and the Company’s management team. This board brings tremendous expertise to Huntsman, and I look forward to participating fully as we take further steps together to strengthen the Company’s competitive position and unlock additional value for shareholders.”
The appointment of Mr. Sewell represents the sixth independent director added to the Huntsman Board in the last 18 months.