THE WOODLANDS, Texas, Dec. 19, 2017 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that Peter Huntsman, President and Chief Executive Officer, has been elected Chairman of the Board of Directors of the Company, an additional role he will assume as of January 1, 2018. The Company's founder, Jon M. Huntsman, will be stepping down as Executive Chairman on December 31, 2017 and the role of Executive Chairman will be eliminated. After serving as Executive Chairman of the company he founded 48 years ago, Mr. Huntsman will continue to serve on the Board of Directors as a Director and Chairman Emeritus.
New Chairman of the Board and CEO Peter Huntsman commented:
"I am honored to be taking on this responsibility at a time when the Company has never been stronger and had more opportunities before it. This will be a smooth transition as our founder, my father, will continue in a valuable capacity as a Board member, maintaining vital relations with customers, suppliers, and policy makers as well as sharing his total 56 years of industry experience."
Jon Huntsman, Sr. further commented:
"It's a high honor to turn the chairmanship role over to Peter Huntsman, who I consider to be one of the world's outstanding CEO's. Huntsman Corporation will continue to experience its sound growth and strong financial controls under Peter's experienced oversight. It has been both a great challenge and a special privilege to be chairman for almost half a century."
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2016 revenues of approximately $7 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 75 manufacturing, R&D and operations facilities in over 30 countries and employ approximately 10,000 associates within our four distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of Huntsman's operations, the ability to implement cost reductions and manufacturing optimization improvements in Huntsman businesses, and other financial, economic, competitive, environmental, political, legal, regulatory and technological factors. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by applicable laws.
SOURCE Huntsman Corporation