Ashland makes organisational changes

Ashland makes organisational changes

11:24 AM, 22nd February 2017
Ashland logo

COVINGTON, US: Ashland Global Holdings Inc has consolidated (merged) executive roles as part of its ongoing plan to drive profitable growth as a pure-play speciality chemicals company following the planned final separation of Valvoline Inc.

Under the consolidation, two executive positions have been removed in order to improve execution of strategic priorities, streamline decision making and reflect Ashland's leaner organisation structure.

The roles and responsibilities of Luis Fernandez-Moreno, senior vice president and president, Chemicals Group, and Greg Elliott, VP and chief human resources and communications officer, have been consolidated under other members of Ashland's executive leadership team.

Fernandez-Moreno joined Ashland in November 2012. He played an important role in driving a turnaround of Ashland's water technologies business, which was divested in 2014, and later led the chemicals group as Ashland took the final step in its decade-long transformation into a global speciality chemicals company.

Elliott joined Ashland in November 2015 and helped drive human resources and change management as Ashland separated into two companies.

As part of the realignment, most of Ashland's commercial leadership team, as well as the chief technology officer, will now report directly to William Wulfsohn, chairman and CEO, Ashland.

"Luis and Greg are skilled leaders and we appreciate their many contributions to Ashland. This was a very difficult decision, as each has brought a great deal to the organisation. At the same time, we believe this consolidation of roles will forge a stronger, more direct connection to the business and better position our teams to execute against Ashland's key priorities this year," said Wulfsohn.

"As we outlined in our first-quarter earnings call with investors in late January, our entire organisation is excited about Ashland's 'pivot' to being a leading premier speciality chemicals company. Our first-quarter results represented a solid start to fiscal 2017 and we intend to build on that momentum as we move through the year and deliver against our fiscal 2017 plan," he added.  

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