Celanese Corp Del Stock Price, News & Analysis

Celanese (NYSE: CE) has announced the election of Christopher Kuehn to its Board of Directors, effective January 1, 2025. Kuehn, 52, currently serves as Executive Vice President and CFO of Trane Technologies plc. His appointment will bring the total board members to 12, with 11 being independent.

In his current role, Kuehn oversees global finance functions, enterprise risk management, and global information technology. He previously held senior positions at Ingersoll Rand, Whirlpool , and SPX The appointment adds financial and risk management expertise to Celanese's board, which reported 2023 net sales of $10.9 billion and employs approximately 12,400 people worldwide.

Celanese (NYSE: CE) announced a leadership transition effective January 1, 2025. Scott Richardson, currently Chief Operating Officer, will become CEO and join the Board of Directors, succeeding Lori Ryerkerk, who is stepping down as Chairman, CEO and director at the end of the year. Edward Galante, an independent director since 2013, will become Chair of the Board.

Richardson brings two decades of experience at Celanese, having served in key roles including COO, CFO, and leadership positions in Engineered Materials and Acetyl Chain businesses. He was instrumental in creating and implementing the operating models that work together as a strategic pair to create value.

The appointment comes as part of a deliberate succession planning process, with Richardson committing to drive cost structure improvements and cash generation.

Henkel and Celanese have announced a partnership to enhance circularity in emulsion production using carbon capture-based materials. The collaboration leverages Celanese's carbon capture and utilization (CCU) technology at its Clear Lake, Texas site, which converts industrial CO2 emissions into methanol - a key component of vinyl acetate monomer used in adhesive formulations.

Through this partnership, Henkel will produce water-based adhesives made from captured CO2 emissions, creating opportunities for packaging and consumer goods customers to increase renewable content in their products. The CCU-based adhesives will primarily benefit the Paper & Board, Envelopes & Graphic Arts, E-commerce, Labeling and Tissue & Towel industries.

Celanese has released its 2023-2024 Sustainability Report, 'The Chemistry of Change,' and Sustainability Index. The report highlights the company's expansion of lower-carbon footprint solutions and commitment to innovation across businesses and supply chains. Key achievements include launching a carbon capture project at Clear Lake, Texas, becoming the first to receive ISCC Carbon Footprint Certification for low-carbon CCU methanol, and partnering with Under Armour® for NEOLAST™ sustainable fiber.

The company has integrated legacy DuPont Mobility & Materials facilities into its environmental data, updated water risk assessment processes, and enhanced Scope 3 GHG emissions quantification. Notable governance achievements include 40% female Board members and 33% female senior leadership. The report aligns with SASB Chemicals Sector Standard, TCFD, and UN SDGs frameworks.

Celanese (NYSE: CE) reported third quarter 2024 results with U.S. GAAP diluted EPS of $1.08 and adjusted EPS of $2.44. Net sales reached $2.6 billion, slightly down from the previous quarter. The company faced persistent demand weakness across key markets, particularly in automotive and industrial segments. Operating profit was $248 million, with adjusted EBIT of $457 million and operating EBITDA of $644 million.

In response to challenges, Celanese announced plans to reduce quarterly dividend by 95% starting Q1 2025, implement cost reduction programs targeting $75 million in savings by end of 2025, and secure a $1 billion term loan for maturing debt.

Celanese (NYSE: CE), a global chemical and specialty materials company, has declared a quarterly cash dividend of $0.70 per share on its common stock. The dividend is payable on November 13, 2024, to stockholders of record as of October 30, 2024.

Celanese is a Fortune 500 company with approximately 12,400 employees worldwide and 2023 net sales of $10.9 billion. The company is committed to sustainability, responsibly managing materials throughout their lifecycle, and growing its portfolio of sustainable products. Celanese aims to make a positive impact in communities and foster inclusivity across its teams.

Celanese (NYSE: CE), a global chemical and specialty materials company, has announced its third quarter 2024 earnings conference call, scheduled for November 5, 2024, at 11:00 a.m. ET. The call will be accessible via webcast and phone. The company will release its Q3 earnings press release after the NYSE closes on November 4, 2024.

Key details:

• Webcast: https://investors.celanese.com
• Phone: 1-877-407-0989 (US), 1-201-389-0921 (International)
• Pre-registration link available
• Replay available until November 19, 2024

Celanese, a Fortune 500 company, employs about 12,400 people worldwide and reported net sales of $10.9 billion in 2023.

Celanese (NYSE: CE) has announced the election of Bruce Chinn to its Board of Directors, effective September 15, 2024. Chinn, 67, recently served as President, CEO, and Director of Chevron Phillips Chemical Company until March 2024. His addition will bring the total number of board members to eleven, with ten being independent.

Chinn's extensive experience includes leadership roles at Chevron and a career at DuPont spanning manufacturing, technical, and business leadership. He currently serves on the Board of Directors of Waste Management, Inc. (WM) and the American Institute of Chemical Engineers Foundation Board of Trustees. Celanese CEO Lori Ryerkerk praised Chinn's exceptional background and leadership experience in the global chemicals industry as valuable additions to the board.

Celanese (NYSE: CE) has lifted the force majeure on acetic acid and vinyl acetate monomer (VAM) in the Western Hemisphere. The company confirmed that supply chain conditions have stabilized. Mark Murray, senior VP of the Acetyl Chain, stated that Celanese met the product needs of virtually all contracted customers during the challenging period by leveraging their integrated and flexible supply chain model.

Celanese is committed to working closely with critical raw material suppliers to mitigate future risks. The company is a global leader in chemistry, producing specialty material solutions across major industries. With a focus on sustainability and growing its portfolio of sustainable products, Celanese employs approximately 12,400 people worldwide and reported 2023 net sales of $10.9 billion.