Huntsman appoints David Sewell to board of directors

THE WOODS, Texas, January 11, 2022 / PRNewswire / – Huntsman Corporation (NYSE: HUN) today announced it has appointed David B. Sewell to its board of directors. Mr. Sewell is currently Chief Executive Officer of WestRock Company, was Chief Operating Officer of The Sherwin-Williams Company and brings to the Huntsman Board of Directors nearly 15 years of senior leadership and operational experience in large materials companies. Today’s announcement brings Huntsman’s multi-year 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 goals it has set. defined during its investor day in November.

“Since Investor Day, when we announced ambitious new financial goals, our board has continued to oversee a series of important initiatives to achieve those goals,” said Peter R. Hunter, Chairman of the Board, President and Chief Executive Officer. “As part of an overall strategy to increase shareholder value, we launched a strategic review of the Textile Effects division to focus on portfolio improvement and implemented an incentive compensation program for all Huntsman executives and vice presidents to closely align their interests with achieving the goals of Investor Day, including expanding margins, optimizing costs and delivering cash flow. ”

Mr. Huntsman continued, “We are delighted to welcome David to the Huntsman Board of Directors. He is a proven operator in the materials and chemicals industries with a solid track record of driving successful integration and 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 delighted to join the Huntsman Board of Directors and to begin working with my fellow directors and the management team of the company. This board brings considerable expertise to Huntsman, and I look forward to being a full participant as we take further steps together to strengthen the company’s competitive position and unleash added value for shareholders. “

Mr. Sewell’s appointment represents the sixth independent director added to the Huntsman Board of Directors in the past 18 months, including appointments from Curt Espeland, the recently retired chief financial officer of Eastman Chemical Company, and José Muñoz, chief operating officer of Hyundai Motor Company, announced last week.

In addition to appointing Mr. Sewell to the Board, the Company also announced that Wayne Réaud, chair of the litigation, public policy and compensation committees, intends to step down from the board at the 2022 annual meeting of shareholders.

Mr. Huntsman said: “On behalf of Huntsman and the many associates he has supported over the years, I want to thank Wayne for his many years of dedicated service and for the leadership and judgment he has shown. in the conference room. Without a doubt, he has made literally billions of dollars for our shareholders over the years overseeing the company’s successful litigation against Apollo, Albemarle and others, and saved the company hundreds of millions on the side of the defense of our files. deserved retirement. “

“It has been a great privilege to serve on the board of directors of Huntsman since its inception as a public company and now is the time for me to move on to the next chapter in my life,” said Mr. Reaud. “I have been so impressed with the quality and character of the new directors who have recently joined the board, as well as everyone with whom I have served over the years. I am proud to have played a role in the many strategic initiatives the company has successfully executed over the years and those that are underway and we look forward to following the continued success of the Huntsman team in the years to come. . ”

With the changes announced over the past two weeks, eight new independent directors will have been appointed since 2018 and four directors will step down from the board at the 2022 annual meeting.

On David Sewell

In March 2021, David Sewell became CEO and board member of WestRock Company, one of the world’s largest paper and packaging companies with $ 18.7 billion of sales and nearly 50,000 employees at the end of fiscal 2021. Prior to joining WestRock, Mr. Sewell was President and Chief Operating Officer of The Sherwin-Williams Company, a global leader in manufacturing , the development, distribution and sale of paints, coatings and related products. He was responsible for the global operating segments and oversaw the execution of strategy across all companies to create long-term value and led strategic mergers and acquisitions, including the closing of three acquisitions. Prior to his 14 years at Sherwin-Williams, he spent over 15 years in the Plastics and Advanced Materials division of General Electric.

Mr. Sewell holds a bachelor’s degree in economics from University of Southern California.

About Huntsman:
Huntsman Corporation is a listed global manufacturer and distributor of differentiated and specialty chemicals with 2020 sales of approximately $ 6 billion. Our chemicals number in the thousands and are sold worldwide to manufacturers serving a wide variety of consumer and industrial end markets. We operate more than 70 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 9,000 associates in our four separate business divisions. For more information on Huntsman, please visit the company’s website at www.huntsman.com.

Social media:

Twitter: www.twitter.com/Huntsman_Corp
Facebook: www.facebook.com/huntsmancorp
LinkedIn: www.linkedin.com/company/huntsman

Forward-looking statements:
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding our plans, objectives, goals, strategies , future events, future income or performance, capital expenditures, financing requirements, plans or intentions relating to acquisitions, divestitures or strategic transactions, including the review of the Textile Effects division, business trends and any other information that is not not historical information. When used in this press release, the words “estimates”, “expects”, “anticipates”, “likely”, “projects”, “prospects”, “plans”, “intend” , “Believes”, “forecasts” or future or conditional verbs, such as “will”, “should”, “could” or “could”, and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management’s review of trends and historical operating data, are based on our current expectations and various assumptions and beliefs. In particular, these forward-looking statements are subject to uncertainties and changes in circumstances and involve risks and uncertainties that may affect the operations, markets, products, prices and other factors of the Company, as indicated in documents filed by the Company with the Securities and Exchange Commission (the “SECOND”). In addition, there can be no assurance that the Textile Effects Division’s review will result in one or more transactions or other strategic changes or outcomes. Significant risks and uncertainties may be related to, but are not limited to, the continued impact of COVID-19 on our operations and financial results, volatile global economic conditions, cyclical and volatile product markets, market disruptions production in manufacturing facilities, the timing of proposed transactions, reorganization or restructuring of the Company’s operations, including any delays or other negative developments affecting the ability to implement cost reductions and optimization improvements manufacturing in the Company’s operations and to achieve anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological aspects. Any forward-looking statement should be considered in light of the risks set forth under the heading “Risk Factors” in our Annual Report on Form 10-K for the year then ended. December 31, 2020, which may be supplemented by other risks and uncertainties disclosed in any subsequent report filed or provided by the Company from time to time. All forward-looking statements speak only as of the date they are posted. Except as required by law, the Company assumes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date of publication or to reflect the occurrence of unforeseen events.

Additional information and where to find it:

The Company intends to file a proxy statement and accompanying WHITE proxy card with the SEC in respect of the 2022 Annual Meeting of Shareholders of the Company (the “2022 Annual Meeting”). Shareholders of the Company are strongly encouraged to carefully read this proxy statement, the accompanying WHITE proxy card and other documents filed with the SEC in their entirety when available, as they will contain important information. Shareholders of the Company will be able to obtain any proxy statement, amendment or supplement to the proxy statement and other documents filed by the Company with the SEC free of charge on the SEC’s website at www.sec.gov. Copies will also be available free of charge on the Company’s website at www.huntsman.com.

Some information about the participants:

The Company, its directors and certain of its senior officers will participate in the solicitation of proxies from the shareholders of the Company in connection with matters to be considered at the 2022 Annual Meeting. Information on the directors and officers of the Company are available in the (a) annual report of the Company on Form 10-K for the year ended. December 31, 2020 filed with the SEC on February 12, 2021 and (b) a proxy circular filed with the SEC on March 18, 2021 with regard to the 2021 Annual Meeting of Shareholders of the Company. To the extent that the holdings of securities of the Company by such directors or officers have changed from the amounts printed in the proxy circular, such changes have been or will be reflected on the declarations of change of beneficial ownership on Form 4 filed with the DRY. Additional information regarding the identity of potential participants and their direct or indirect interests, by title or otherwise, will be set out in the proxy circular and other documents to be filed with the SEC in connection with the annual meeting. from 2022.

SOURCE Huntsman Corporation

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