DALLAS - Celanese Corporation (NYSE: NYSE:CE), a global chemical and specialty materials company, has appointed Kim K.W. Rucker as its new lead independent director, effective last Monday. Rucker, who has been on the Celanese Board of Directors since 2018, brings a wealth of experience to the role, having held executive leadership positions and served on various corporate boards.
The transition comes as William M. Brown, the former lead independent director, steps down following his recent appointment as Chief Executive Officer of 3M (NYSE:MMM) Corporation. Concurrently, Ganesh Moorthy has been appointed as Chair of the Celanese Nominating and Corporate Governance Committee, a position previously held by Rucker, who remains on the committee.
Lori Ryerkerk, Celanese's Chair, CEO, and President, praised Rucker's contributions, citing her "wisdom, insights, and engagement" as critical to the company's strategic decisions, including those made during the Covid pandemic. Ryerkerk also expressed gratitude to Brown for his eight years of service on the board.
Rucker's background includes serving as Executive Vice President, General Counsel, and Corporate Secretary for Andeavor, and she currently holds independent director positions at HP Inc (NYSE:HPQ)., Marathon Petroleum Corporation (NYSE:MPC), and GE Vernova. Her board experience is complemented by her involvement in nonprofit and healthcare organizations, such as Johns Hopkins Medicine and Haven for Hope.
With an academic foundation in economics, law, and public policy from the University of Iowa and Harvard University, Rucker's career has spanned several leading companies, providing her with strategic, leadership, and corporate governance expertise.
Celanese, a Fortune 500 company, reported net sales of $10.9 billion in 2023 and employs approximately 12,400 people worldwide. The company emphasizes sustainability and inclusivity, aiming to create value through its specialty material solutions across various industries.
This announcement is based on a press release statement from Celanese Corporation.
InvestingPro Insights
As Celanese Corporation (NYSE: CE) welcomes Kim K.W. Rucker as its new lead independent director, the company's financial strength and market performance are essential factors for investors to consider.
According to real-time data from InvestingPro, Celanese boasts a robust market capitalization of $17.32 billion, reflecting its significant presence in the chemical and specialty materials industry. The company's Price-to-Earnings (P/E) ratio stands at a competitive 8.65, indicating an attractive valuation compared to earnings.
Investors may also be interested in the company's recent revenue growth, which has been reported at 13.1% for the last twelve months as of Q4 2023. This growth is a testament to Celanese's ability to expand its operations and maintain a strong market position. Furthermore, the company's dividend yield is currently at 1.81%, with a history of raising its dividend for 14 consecutive years, a sign of its commitment to providing consistent shareholder returns.
For those considering investing in Celanese, two InvestingPro Tips highlight the company's financial health and investor benefits: Celanese has maintained dividend payments for 20 consecutive years, demonstrating its reliability and stability as an investment. Additionally, the company's valuation implies a strong free cash flow yield, suggesting that it is generating significant cash relative to its share price.
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