Avient Board of Directors Appoints Ashish K. Khandpur as Chairman of the Board

Rhea-AI Summary

Avient Corporation (NYSE: AVNT) has appointed its current President, CEO and Director Dr. Ashish K. Khandpur as Chairman of the Board, effective May 14, 2025. Dr. Khandpur succeeds Richard H. Fearon, who will continue serving on the Board after holding the Chairman position since December 2023.

Under Dr. Khandpur's leadership, Avient has implemented a new strategy focused on innovation and organic growth, which is already showing positive results. The Board's decision reflects their confidence in his ability to create long-term value for stakeholders through continued organic growth and margin expansion initiatives.

Positive

• Dr. Khandpur has already demonstrated positive impact through new strategy implementation
• Company is experiencing early positive results from innovation and organic growth initiatives
• Focus on both topline growth and margin expansion indicates comprehensive value creation approach

Negative

• None.

CLEVELAND, May 14, 2025 /PRNewswire/ -- Avient Corporation (NYSE: AVNT), an innovator of materials solutions, today announced that its Board of Directors has appointed Ashish K. Khandpur, Ph.D., Avient's President, Chief Executive Officer and Director, to serve in the additional role of Chairman of the Board, effective May 14, 2025.

Dr. Khandpur succeeds Richard H. Fearon, who had served as Chairman of the Board of Directors since December 2023 and will continue to serve on the Board. 

"Since joining Avient, Ashish has made an immediate impact, effectively leading the company in developing and executing a new strategy to amplify innovation and deliver organic growth – the results of which we are already experiencing," said Mr. Fearon.  "Ashish's appointment reinforces the Board's confidence in his leadership to generate long-term value creation for Avient stakeholders."

Dr. Khandpur said, "I'm thankful for the Board's confidence and for Rick's recent leadership as Chairman as I began with the company.  I look forward to continuing to work with our talented Board and our engaged leadership team to drive our new strategy and deliver ongoing organic growth on the topline with margin expansion on the bottom line."

About Dr. Ashish K. Khandpur

Dr. Khandpur serves as Chairman, President and CEO of Avient Corporation.  He began his career in 1995 at 3M as a senior research engineer, thereafter ascending through a career path comprised of a variety of research and engineering roles while based in the U.S. and India.  In 2014, he was appointed Chief Technology Officer, leading 3M's global team of over 8,000 scientists and engineers, while overseeing annual R&D investments of nearly $1.9 billion.  In 2017, he was appointed to lead 3M's $5B Electronics & Energy Business Group, a position he held until 2019 when he was promoted Group President of the Transportation and Electronics Business Group.  He holds a Bachelor's of Technology degree in Chemical Engineering from the Indian Institute of Technology, Delhi, and a Ph.D in Chemical Engineering from the University of Minnesota.  He serves as a member of the Board of Directors of Constellation Energy Corporation and on the Dean's Advisory Board for the College of Science and Engineering at the University of Minnesota.

About Avient

Our purpose at Avient Corporation (NYSE: AVNT) is to be an innovator of materials solutions that help our customers succeed, while enabling a sustainable world. Our local touch and customer engagement, combined with our global presence, allows us to serve customers with agility. We harness the collective strength of more than 9,000 employees worldwide to collaborate and build on each other's ideas. In doing so, we innovate solutions that help our customers overcome their challenges or capitalize on opportunities provided by the fast-changing world and secular trends. Our expanding portfolio of offerings includes colorants, advanced composites, functional additives, engineered materials, and Dyneema®, the world's strongest fiber™. By intersecting our broad portfolio of technologies with the product roadmaps of our customers, we help create differentiated and high-performance products that make the world better and more sustainable. Visit www.avient.com to learn more.

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SOURCE Avient Corporation

FAQ

Who is the new Chairman of Avient Corporation (AVNT)?

Dr. Ashish K. Khandpur, who also serves as President, CEO and Director, has been appointed as Chairman of Avient Corporation's Board, effective May 14, 2025.

What is Dr. Khandpur's strategy for Avient (AVNT)?

Dr. Khandpur's strategy focuses on amplifying innovation and delivering organic growth, while targeting margin expansion on the bottom line.

Who did Dr. Khandpur replace as Chairman of Avient (AVNT)?

Dr. Khandpur succeeded Richard H. Fearon, who served as Chairman since December 2023 and will continue to serve on the Board.

What results has Avient (AVNT) seen under Dr. Khandpur's leadership?

According to the Board, the company is already experiencing positive results from Dr. Khandpur's new strategy focusing on innovation and organic growth.