Avient Hires Jamie A. Beggs as Chief Financial Officer

Rhea-AI Summary

Avient Corporation (NYSE: AVNT) has appointed Jamie A. Beggs as the new Chief Financial Officer, succeeding Bradley C. Richardson, who will retire later this year. Ms. Beggs brings 20 years of financial leadership experience, previously serving as CFO at Hunt Consolidated and holding key roles at Celanese Corporation. Robert M. Patterson, CEO, expressed confidence in her ability to drive the company’s growth strategy. Avient reported pro forma revenues of $4.0 billion in 2019, focusing on sustainable material solutions across various industries.

Positive

• Jamie Beggs brings 20 years of experience in financial leadership, enhancing Avient's executive team.
• Her prior CFO roles may provide valuable insights and strategic direction, potentially leading to growth.

Negative

• Transitioning from a long-term CFO to a new leader could raise concerns about continuity in financial strategy.

CLEVELAND, Aug. 24, 2020 /PRNewswire/ -- Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, has announced that Jamie A. Beggs has joined the company as Senior Vice President, Chief Financial Officer.  She replaces Bradley C. Richardson who has decided to retire later this year after an exceptional career, including the last seven as Chief Financial Officer at Avient.

Ms. Beggs joins Avient with 20 years of experience in financial leadership positions in public and private organizations with an emphasis on specialty materials and diverse end markets.

"We are thrilled to welcome Jamie to our executive leadership team, as we accelerate our specialty growth strategy during this new era as Avient," said Robert M. Patterson, Chairman, President and Chief Executive Officer, Avient Corporation.  "With her prior CFO experience, industry expertise and inspirational leadership, I look forward to partnering with her as our company delivers on the value creation opportunities before us."

Ms. Beggs most recently served as Chief Financial Officer of Hunt Consolidated, Inc., a diversified holding company for a group of businesses in several industries, including oil and gas exploration and production, refining, liquefied natural gas, power and infrastructure.  Prior to Hunt Consolidated, Ms. Beggs worked for 10 years at Celanese Corporation, where she served in a variety of leadership positions, most recently as Corporate Vice President and Treasurer, and earlier as Chief Financial Officer of the Materials Solutions business.  She began her career at PricewaterhouseCoopers LLP after earning her Bachelor's and Master's degrees in Accounting from the University of Texas.

"I'm extremely proud and excited to be joining Avient at such an exciting time," said Ms. Beggs.  "I'm eager to contribute to the next chapter of the company's transformation and creating value for all stakeholders." 

Retiring CFO Brad Richardson will stay with the company for a transitionary period.  "Brad enters retirement after a remarkable professional career where he served as a successful CFO for multiple publicly traded companies and lived on three continents," said Mr. Patterson.  "He used those experiences to help guide Avient through a tremendous portfolio shift, positioning us very well for continued success.  We thank Brad for his leadership and wish him all the best in his retirement years."

About Avient

Avient Corporation (NYSE: AVNT), with 2019 pro forma revenues of $4.0 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Examples include:

• Barrier technologies that preserve the shelf-life and quality of food, beverages, medicine and other perishable goods through high-performance materials that require less plastic
• Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation
• Breakthrough technologies that minimize wastewater and improve the recyclability of materials and packaging across a spectrum of end uses

Avient employs approximately 9,100 associates and is certified ACC Responsible Care® and a founding member of the Alliance to End Plastic Waste.  For more information, visit www.avient.com.

 

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SOURCE Avient Corporation

FAQ

Who is the new CFO of Avient Corporation?

The new CFO of Avient Corporation is Jamie A. Beggs.

What was the reason for Jamie A. Beggs' appointment at Avient?

Jamie A. Beggs was appointed to replace retiring CFO Bradley C. Richardson, bringing extensive financial leadership experience.

What is Jamie A. Beggs' previous experience before joining Avient?

Before joining Avient, Jamie A. Beggs served as CFO at Hunt Consolidated and held various leadership roles at Celanese Corporation.

How might the leadership change impact Avient?

The leadership change could impact Avient's financial strategy and growth trajectory, depending on how quickly Jamie A. Beggs adjusts.

What were Avient Corporation's revenues in 2019?

Avient Corporation reported pro forma revenues of $4.0 billion in 2019.