Ashland Global Holdings Inc. Announces Board Changes
January 14, 2019 at 04:30 pm IST
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Ashland Global Holdings Inc. announced significant changes to the composition and leadership of its board of directors, consistent with its ongoing board refreshment program. These include the addition of two new independent board members, appointment of a lead independent director and appointment of new board committee chairs. These actions were taken by the Ashland board in consultation with Neuberger Berman along with input from other shareholders. Neuberger Berman has agreed to vote for Ashland's nominees for election at Ashland's 2019 Annual Meeting of Stockholders on February 8, 2019. The board will appoint the two new independent directors consistent with its disciplined board process and with the assistance of Russell Reynolds Associates. Following these two appointments, eight of Ashland's directors will have been added to the board since 2015. These directors include Craig A. Rogerson, chairman, president and chief executive officer of Hexion Inc., who was added to the board's slate of nominees following engagement with several major shareholders on January 2, 2019. Michael J. Ward, having served on the Ashland board for 18 years, has indicated he will retire from the board following the appointment of the first new independent director, which will take place after the 2019 Annual Meeting. Board and Leadership Committee Changes: The board has announced the following changes, effective following the 2019 Annual Meeting: Jay V. Ihlenfeld, current Ashland director, will be appointed lead independent director, following the recently announced retirement of Barry W. Perry.Mark C. Rohr, current director, will be appointed chair of the Governance & Nominating Committee. Kathleen Wilson-Thompson, current director, will be appointed chair of the Compensation Committee. Mr. Rogerson, current director nominee, will be appointed to the Compensation Committee. Brendan M. Cummins, current director, will move from the Governance & Nominating Committee to the Environmental, Health, Safety and Quality Committee, to leverage his extensive chemicals expertise.
Ashland Inc. is a global specialty additives and materials company. The Company serves customers in a wide range of consumer and industrial markets, including architectural coatings, construction, energy, food and beverage, nutraceuticals, personal care, and pharmaceutical. The Company's segments include life sciences, personal care, specialty additives and intermediates. The life sciences segment is comprised of pharmaceuticals, nutrition, nutraceuticals, agricultural chemicals, diagnostic films and fine chemicals. The personal care segment is comprised of bio functionals, microbial protectants (preservatives), skin care, sun care, oral care, hair care and household solutions. The specialty additives segment is comprised of rheology and additives serving the architectural coatings, construction, energy, automotive and various industrial markets. Its Intermediates segment is comprised of the production of 1,4 butanediol (BDO) and related derivatives, including n-methyl pyrrolidone.
ASHLAND INC. 
