Ashland appoints former Versum exec as next CEO

Ashland appoints former Versum exec as next CEO

5:31 AM, 9th October 2019
Ashland logo

COVINGTON, US: Ashland Global Holdings Inc said that the Board of Directors has elected Guillermo Novo as Chairman and CEO of Ashland, effective December 31, 2019.

William A. Wulfsohn will continue to serve as Chairman and CEO through the end of this year to ensure a smooth transition. Following Wulfsohn’s departure from Ashland, the Board will be composed of 10 members, nine of whom are independent.

Novo is an accomplished industry executive, bringing more than three decades of specialty materials experience to Ashland. From 2016 to 2019, he served as President and CEO of Versum Materials, a highly regarded Semiconductor Materials supplier. In May 2019, Novo was elected to the Ashland Board.

“Guillermo’s election represents the completion of a comprehensive and thoughtful assessment by the board regarding the right qualities and experience for the next leader of Ashland. The company has benefited from Bill’s leadership and expertise and we are grateful for his service and contributions toward enhancing shareholder value. As a result, Ashland is now well-positioned with a singular focus on the attractive specialty chemicals market. We thank Bill and wish him all the best in his retirement,” said Jay Ihlenfeld, Lead Independent Director of Ashland.

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