Celanese Announces New Leadership Appointment to Drive Growth and Profitability
Celanese (NYSE: CE) has announced Todd Elliott will rejoin the company as Senior Vice President to lead the Engineered Materials business, effective February 3, 2025. Elliott, who previously retired from Celanese in 2020 as SVP and head of the Acetyls business, will succeed Tom Kelly, who is stepping down. During his previous tenure at Celanese, Elliott held multiple leadership roles and was instrumental in launching the customer project pipeline model.
For the past five years, Elliott has worked as an independent consultant in the chemicals and polymers industry. CEO Scott Richardson expressed confidence in Elliott's ability to enhance operational efficiency and drive improved growth and profitability. The company is currently focusing on cost reduction, deleveraging the balance sheet, and reducing risk in its capital structure.
Celanese, a Fortune 500 company with approximately 12,400 employees worldwide, reported net sales of $10.9 billion in 2023.
Celanese (NYSE: CE) ha annunciato che Todd Elliott rientrerà nell'azienda come Vicepresidente Senior per guidare il settore dei Materiali Ingegnerizzati, a partire dal 3 febbraio 2025. Elliott, che si era ritirato da Celanese nel 2020 come SVP e capo del settore Acetili, succederà a Tom Kelly, che sta per lasciare. Durante il suo precedente incarico in Celanese, Elliott ha ricoperto diversi ruoli di leadership ed è stato fondamentale nel lancio del modello di pipeline dei progetti per i clienti.
Negli ultimi cinque anni, Elliott ha lavorato come consulente indipendente nel settore chimico e dei polimeri. Il CEO Scott Richardson ha espresso fiducia nella capacità di Elliott di migliorare l'efficienza operativa e di stimolare una crescita e redditività migliori. L'azienda si sta attualmente concentrando sulla riduzione dei costi, sul de-leveraging del bilancio e sulla diminuzione del rischio nella sua struttura patrimoniale.
Celanese, un'azienda Fortune 500 con circa 12.400 dipendenti in tutto il mondo, ha riportato vendite nette di $10,9 miliardi nel 2023.
Celanese (NYSE: CE) ha anunciado que Todd Elliott regresará a la compañía como Vicepresidente Sénior para liderar el negocio de Materiales Ingenierizados, a partir del 3 de febrero de 2025. Elliott, quien se retiró de Celanese en 2020 como SVP y jefe del negocio de Acetilos, sucederá a Tom Kelly, quien dejará su cargo. Durante su anterior periodo en Celanese, Elliott ocupó múltiples roles de liderazgo y fue fundamental en el lanzamiento del modelo de pipeline de proyectos para clientes.
Durante los últimos cinco años, Elliott ha trabajado como consultor independiente en la industria de productos químicos y polímeros. El CEO Scott Richardson expresó confianza en la capacidad de Elliott para mejorar la eficiencia operativa y impulsar un mejor crecimiento y rentabilidad. Actualmente, la empresa se está centrando en la reducción de costos, la disminución de la deuda en el balance y la reducción del riesgo en su estructura de capital.
Celanese, una empresa Fortune 500 con aproximadamente 12,400 empleados en todo el mundo, reportó ventas netas de $10.9 mil millones en 2023.
셀라니스 (NYSE: CE)는 토드 엘리엇이 2025년 2월 3일부터 엔지니어링 소재 사업의 수석 부사장으로 회사에 복귀할 것이라고 발표했습니다. 엘리엇은 2020년 아세틸 사업 부사장으로서 셀라니스에서 은퇴한 후 토미 켈리를 대신하게 됩니다. 셀라니스에서의 이전 재임 기간 동안 엘리엇은 여러 리더십 역할을 맡았으며 고객 프로젝트 파이프라인 모델을 출범하는 데 중요한 역할을 했습니다.
지난 5년 동안 엘리엇은 화학 및 폴리머 산업에서 독립 컨설턴트로 일해 왔습니다. 스캇 리차드슨 CEO는 엘리엇이 운영 효율성을 높이고 더 나은 성장과 수익성을 이끌어낼 수 있을 것이라는 확신을 표명했습니다. 현재 회사는 비용 절감, 재무구조 개선, 자본 구조의 위험 감소에 집중하고 있습니다.
셀라니스는 전 세계에 약 12,400명의 직원을 두고 있는 포춘 500 대기업으로, 2023년에는 $10.9억 달러의 순매출을 보고했습니다.
Celanese (NYSE: CE) a annoncé que Todd Elliott rejoindra à nouveau l'entreprise en tant que Vice-Président Senior pour diriger l'activité des Matériaux Ingénierisés, à partir du 3 février 2025. Elliott, qui avait précédemment pris sa retraite de Celanese en 2020 en tant que SVP et responsable de l'activité Acétyles, succédera à Tom Kelly, qui se retire. Au cours de son précédent mandat chez Celanese, Elliott a occupé plusieurs rôles de leadership et a joué un rôle clé dans le lancement du modèle de pipeline de projets pour les clients.
Au cours des cinq dernières années, Elliott a travaillé en tant que consultant indépendant dans l'industrie chimique et des polymères. Le CEO Scott Richardson a exprimé sa confiance dans la capacité d'Elliott à améliorer l'efficacité opérationnelle et à stimuler une meilleure croissance et rentabilité. L'entreprise se concentre actuellement sur la réduction des coûts, la désendettement de son bilan et la réduction des risques dans sa structure de capital.
Celanese, une entreprise du Fortune 500 comptant environ 12 400 employés dans le monde, a déclaré un chiffre d'affaires net de 10,9 milliards de dollars en 2023.
Celanese (NYSE: CE) hat angekündigt, dass Todd Elliott am 3. Februar 2025 als Senior Vice President in das Unternehmen zurückkehren wird, um das Geschäft mit Ingenieurmaterialien zu leiten. Elliott, der 2020 als SVP und Leiter des Acetylgeschäfts bei Celanese in den Ruhestand ging, wird Tom Kelly nachfolgen, der zurücktritt. Während seiner vorherigen Amtszeit bei Celanese hatte Elliott verschiedene Führungspositionen inne und war maßgeblich an der Einführung des Kundenprojekt-Pipeline-Modells beteiligt.
In den letzten fünf Jahren hat Elliott als unabhängiger Berater in der Chemie- und Polymerindustrie gearbeitet. CEO Scott Richardson äußerte Vertrauen in Elliott's Fähigkeit, die Betriebseffizienz zu steigern und ein verbessertes Wachstum und Rentabilität voranzutreiben. Das Unternehmen konzentriert sich derzeit auf die Kostenreduktion, die Reduzierung der Verschuldung in der Bilanz und die Verringerung des Risikos in seiner Kapitalstruktur.
Celanese, ein Fortune-500-Unternehmen mit etwa 12.400 Mitarbeitern weltweit, meldete 2023 einen Nettoumsatz von 10,9 Milliarden US-Dollar.
- Appointment of experienced executive with proven track record in multiple leadership roles
- Strategic focus on cost reduction and balance sheet deleveraging
- Strong 2023 performance with $10.9 billion in net sales
- Leadership transition period could create temporary operational uncertainty
Insights
This leadership change merits attention due to Elliott's proven track record and deep understanding of Celanese's operations, particularly his past success in transforming the Acetyls business model. His return to lead the Engineered Materials division comes at a critical time when the company is focusing on cost reduction and deleveraging initiatives. The emphasis on "deploying capital to deleverage the balance sheet" suggests a strategic pivot toward financial stability.
The appointment signals a potential transformation in the EM business unit, which could benefit from Elliott's expertise in customer project pipeline models and commercial strategies. His recent consulting experience in M&A and operational analysis adds a fresh perspective that could accelerate the company's strategic initiatives. Of particular note is the company's
The market context of this appointment is significant, coming amid Celanese's explicit focus on balance sheet management and cost structure optimization. The company's emphasis on deleveraging indicates potential concerns about debt levels, likely stemming from previous acquisitions. Elliott's experience in operational transformation and value creation through commercial strategies could be important in generating the free cash flow needed for debt reduction.
The mention of "prudently reducing risk in our capital structure" alongside aggressive cost reduction measures suggests a comprehensive financial restructuring approach. His previous success in transforming the Acetyls business model to focus on downstream derivatives optionality demonstrates an understanding of value chain optimization that could be vital for improving the EM segment's profitability in current market conditions.
Todd Elliott Rejoins Celanese to Lead Engineered Materials
Todd Elliott, a proven executive who retired from Celanese in 2020 as Senior Vice President (SVP) and head of the Acetyls business, will return to the Company as SVP to lead the Engineered Materials (EM) business, effective February 3, 2025. Elliott will succeed Tom Kelly, who is stepping down as SVP, Engineered Materials and will serve in a transition role through March 10, 2025.
Elliott had a diverse and successful career with Celanese, progressing through multiple leadership roles in Business, Sales and Corporate Development. In addition to leading the Acetyls business, he oversaw the Acetate Tow business, the company’s European regional center, and commercial operations of the EM business. While head of global sales for EM, he was instrumental in launching the customer project pipeline model which has been foundational for the Company’s focus on value creation.
For the last five years, Elliott has been an independent consultant to clients in the chemicals and polymers industry, providing advisory services related to M&A, financial and operational analysis, end-use applications and commercial go-to-market strategies.
“Celanese will benefit from Todd’s deep industry knowledge, track record of success and fresh perspectives, which make him uniquely well-suited to lead the Engineered Materials business at this time,” said Scott Richardson, President and CEO. “His engineered polymer experience, extensive history with our operating models, and understanding of our customers and end-use markets will allow Todd to hit the ground running. The Celanese Board of Directors and management team are confident he is the right leader to enhance operational efficiency, strengthen our competitive position and drive improved growth and profitability.”
“I want to thank Tom for his service to Celanese over the last six years, and over the next few months to facilitate a smooth leadership transition.”
About Todd Elliott
Todd Elliott joined Celanese in 1987 in a district sales role. He quickly rose through increasing leadership opportunities in regional sales, business analysis, investor relations, and corporate development. He led the Acetate Tow business before becoming SVP of global sales for both Acetyls and EM in 2016. In 2017, he became SVP and global commercial leader for EM and head of Celanese Europe until 2018. At that time, he was elevated to SVP of Acetyls and is credited with transforming the Acetyls operating model to a differentiated focus on downstream derivatives optionality that has redefined the value of the Acetyls business. Elliott earned his undergraduate degree at
About Celanese
Celanese is a global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Our businesses use our chemistry, technology and commercial expertise to create value for our customers, employees and shareholders. We support sustainability by responsibly managing the materials we create and growing our portfolio of sustainable products to meet customer and societal demand. We strive to make a positive impact in our communities and to foster inclusivity across our teams. Celanese is a Fortune 500 company that employs approximately 12,400 employees worldwide with 2023 net sales of
Forward-Looking Statements
This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future financial and other performance, expected future costs and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements, including those factors addressed in the Company’s November 4, 2024, earnings press release furnished as Exhibit 99.1 to the Company’s Items 2.02 and 9.01 Form 8-K dated November 4, 2024 and those factors discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date the statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
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Source: Celanese Corporation
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