Industry News

Eastman Realigns Management Structure to Support Growth Strategy

Published on 2006-03-08. Author : SpecialChem

KINGSPORT, Tenn. -- Eastman Chemical Company (NYSE:EMN) announced a realignment of its organizational structure and related senior management assignments.

"The changes we're announcing give us a management and organizational structure that is aligned to implement our corporate growth strategy," said Brian Ferguson, chairman and CEO. "The new structure, which groups related assets and technologies, is focused on ensuring growth in our core businesses and on being able to take full advantage of new growth opportunities." The changes are effective April 1, 2006.

Ferguson announced that James P. Rogers, 54, will serve as president, chemicals and fibers business group, which includes additional responsibilities from his current position as executive vice president. The chemicals and fibers business group will consist of the company's performance chemicals and intermediates; fibers; and coatings, adhesives, specialty polymers and inks segments. Rogers will also be responsible for supply chain, worldwide manufacturing support, chemicals and fibers market development and innovation, and the management of regions outside the United States.

Gregory O. Nelson, 54, has been named executive vice president, polyesters business group. He is currently senior vice president and chief technology officer. The polyesters business group includes the company's polymers and specialty plastics segments. In addition, Nelson will have responsibility for polyesters market development and innovation.

Ronald C. Lindsay, 47, has been appointed senior vice president and chief technology officer, replacing Nelson in that position. Lindsay is currently vice president and general manager of the company's performance chemicals and intermediates segment.

"By bringing together our chemicals and fibers segments into one group, we'll benefit from the synergies among our performance chemicals and intermediates; fibers; and coatings, adhesives, specialty polymers and inks segments," Ferguson said. "And combining the strengths of our polyesters segments into one group, which will include our polymers and specialty plastics segments, will enable us to take advantage of our integrated polyester strategy. This structure, which is built around common technologies and streams, will provide the maximum opportunity to successfully implement our growth initiatives. It also brings a stronger focus on the capabilities within our core businesses.

"We're excited about the expanded opportunities for collaboration across all our related assets and technologies that this structure will provide," Ferguson said. "Eastman has an 86-year legacy of customer service, operational performance and employees dedicated to excellence. By putting these leaders and organizations together in this new structure, we're building on those strengths and capabilities to help us achieve success in the future."

Eastman manufactures and markets chemicals, fibers and plastics worldwide. It provides key differentiated coatings, adhesives and specialty plastics products; is the world’s largest producer of PET polymers for packaging; and is a major supplier of cellulose acetate fibers. Founded in 1920 and headquartered in Kingsport, Tenn., Eastman is a FORTUNE 500 company with 2005 sales of $7 billion and approximately 12,000 employees.

Source: Eastman

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