YASTEST
COVINGTON, KY, November 28, 2017 -
Ashland Global Holdings Inc. (NYSE: ASH) (the "company") today
announced its intention to nominate Jerome A. Peribere as a new
independent director for election at the company's upcoming 2018
Annual Meeting of Stockholders (the "2018 Annual Meeting"). If
elected, it is also intended that Peribere will serve as a member
of the compensation committee.
Consistent with the company's
mandatory retirement policy set forth in its Corporate Governance
Guidelines, George A. Schaefer Jr. will not be nominated for
re-election to the board at the 2018 annual meeting. Ashland
intends to nominate all other existing directors for re-election
and expects the board will remain 11 directors.
Peribere has served as the
president and chief executive officer of Sealed Air Corporation
since March 2013 and previously worked for 35 years at The Dow
Chemical Company, where he held a variety of leadership roles
throughout the world. He previously served as president and chief
executive officer of Dow Advanced Materials, where he led the
integration of the Rohm and Haas acquisition and delivered
significant growth and cost synergies. Prior to that, he spent the
majority of his career in Dow AgroSciences.
"Jerome's extensive leadership and
proven track record in the chemicals industry would make him a
valuable addition to the Ashland board," said William A. Wulfsohn,
Ashland chairman and chief executive officer. "With the addition of
Jerome, six of the company's directors will have joined our board
within the past three years, four of whom will have joined in the
past year alone. These new directors underscore Ashland's
commitment to regularly refreshing and strengthening the
composition of our board. Our objective is to continue executing
and delivering on our strategic plan to drive shareholder value and
build momentum on our path to become the premier specialty
chemicals company. We would also like to thank Cruiser Capital
Advisors for their assistance in recommending Jerome to Ashland. We
are confident that Jerome's industry experience, coupled with his
deep understanding of global operations, strategy and integration,
will benefit the Ashland board and all the company's
stakeholders."
"I am honored to join Ashland's
board of directors and look forward to working with the board and
management team as Ashland continues to position itself as a
leading global specialty chemicals company," said
Peribere.
Charles J. Rose of Cruiser Capital
Advisors said, "We believe that Ashland is a unique franchise with
tremendous potential. Today's announcement gives us the utmost
confidence that Ashland is committed and well positioned to deliver
value to its shareholders. Jerome is a proven, effective leader,
and we believe that adding his capabilities and experience to the
Ashland board will further drive strong financial results."
About Jerome
Peribere
Jerome Peribere is the current CEO
of Sealed Air Corporation, a packaging company. He is
retiring from Sealed Air at the end of December of 2017. Peribere
joined Sealed Air as president and chief operating officer in
September of 2012 and became chief executive officer effective
March 1, 2013. Peribere is a 35-year veteran of The Dow Chemical
Company (Dow) and has worked throughout the world in a variety of
leadership roles.
Previously, Peribere was the
president and chief executive officer of Dow Advanced Materials, a
$12 billion revenue unit of Dow serving customers in more than 130
countries. In this role, he led the integration of the Rohm and
Haas acquisition and delivered significant growth and cost
synergies. Previously, Peribere spent most of his career in Dow
AgroSciences. Peribere is a director of Xylem, Inc.
About Ashland
Ashland Global Holdings Inc. (NYSE: ASH) is a premier global
specialty chemicals company serving customers in a wide range of
consumer and industrial markets, including adhesives, architectural
coatings, automotive, construction, energy, food and beverage,
personal care and pharmaceutical. At Ashland, we are approximately
6,500 passionate, tenacious solvers - from renowned scientists and
research chemists to talented engineers and plant operators - who
thrive on developing practical, innovative and elegant solutions to
complex problems for customers in more than 100 countries.
Visit ashland.com to learn more.
C-ASH
Forward-Looking
Statements
This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. Ashland has identified
some of these forward-looking statements with words such as
"anticipates," "believes," "expects," "estimates," "is likely,"
"predicts," "projects," "forecasts," "objectives," "may," "will,"
"should," "plans" and "intends" and the negative of these words or
other comparable terminology. Ashland may from time to time make
forward-looking statements in its annual reports, quarterly reports
and other filings with the SEC, news releases and other written and
oral communications. These forward-looking statements are based on
Ashland's expectations and assumptions, as of the date such
statements are made, regarding Ashland's future operating
performance and financial condition, as well as the economy and
other future events or circumstances. Ashland's expectations and
assumptions include, without limitation, internal forecasts and
analyses of current and future market conditions and trends,
management plans and strategies, operating efficiencies and
economic conditions (such as prices, supply and demand, cost of raw
materials, and the ability to recover raw-material cost increases
through price increases), and risks and uncertainties associated
with the following: the impact of acquisitions and/or divestitures
Ashland has made or may make, including the acquisition of
Pharmachem (including the possibility that Ashland may not realize
the anticipated benefits from such transactions); Ashland's
substantial indebtedness (including the possibility that such
indebtedness and related restrictive covenants may adversely affect
Ashland's future cash flows, results of operations, financial
condition and its ability to repay debt); the potential that
Ashland does not realize all of the expected benefits of the
separation of its Valvoline business; and severe weather, natural
disasters, cyber events and legal proceedings and claims (including
product recalls, environmental and asbestos matters). Various risks
and uncertainties may cause actual results to differ materially
from those stated, projected or implied by any forward-looking
statements, including, without limitation, risks and uncertainties
affecting Ashland that are described in Ashland's most recent Form
10-K (including Item 1A Risk Factors) filed with the SEC, which is
available on Ashland's website at http://investor.ashland.com or on
the SEC's website at http://www.sec.gov. Ashland believes its
expectations and assumptions are reasonable, but there can be no
assurance that the expectations reflected herein will be achieved.
Unless legally required, Ashland undertakes no obligation to update
any forward-looking statements made in this news release whether as
a result of new information, future events or otherwise.
Information on Ashland's website is not incorporated into or a part
of this news release.
(TM) Trademark, Ashland or its
subsidiaries, registered in various countries.
FOR FURTHER
INFORMATION:
Investor Relations:
Seth A.
Mrozek
+1 (859) 815-3527
samrozek@ashland.com
Media Relations:
Gary Rhodes
+1 (859) 815-3047
glrhodes@ashland.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ashland Inc. via Globenewswire
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