Celanese Corporation_ a global chemical and specialty materials company, announced that Scott Richardson, currently Celanese’s Chief Operating Officer, has been appointed Chief Executive Officer and will join the Company’s Board of Directors, effective January 1, 2025. Richardson will succeed Lori Ryerkerk, who is stepping down as Chairman, CEO and director of Celanese at the end of the year. Celanese has elected Edward Galante, an independent director on Celanese’s Board since 2013, as Chair of the Board, effective upon Ryerkerk’s departure.
Over his two decades of service at Celanese, Scott Richardson has served in a number of key management roles, including Chief Operating Officer, Chief Financial Officer and leadership positions overseeing Celanese’s leading global Engineered Materials (EM) and Acetyl Chain (AC) businesses. Richardson was intimately involved in creating and implementing the EM and AC operating models that work together as a strategic pair to create value.
“It is an incredible honor to be named CEO-elect of Celanese, and I am grateful to our Board of Directors for entrusting me with this responsibility,” said Richardson. “Celanese is known for tenacious execution, even during difficult times, and I am confident we have all the critical components to create value for our shareholders, customers, employees and partners. I am fully committed to driving the changes needed in light of today’s challenges, including our relentless efforts to improve our cost structure and drive cash generation. By executing our action plan and controlling what we can control, we are working to position Celanese to capitalize on its significant upside potential, resilient free cash flow and long-term value creation.”
“Coming out of retirement to lead Celanese since 2019 as CEO has been the true highlight of my career, and I'm proud of what we've achieved together,” said Ryerkerk. “Scott is a proven executive who brings deep expertise across the Company’s business and new perspectives to the CEO role. I look forward to seeing what he accomplishes as he works with the team to build an even stronger Celanese.”
“The Board’s appointment of Scott represents the culmination of a deliberate and thoughtful succession planning process, and we are pleased to have an executive of Scott’s caliber,” said Kim Rucker, Lead Independent Director of Celanese’s Board of Directors. “The Board is looking forward to the long-term success of Celanese under Scott’s direction.”
Rucker continued, “On behalf of the Board, I also want to thank Lori for her leadership and significant contributions over the last five years. With Lori at the helm, Celanese has navigated challenging macro environments while strengthening its competitive position. We wish her all the best in her next chapter.”
