Ganesh Moorthy Elected to Celanese Board of Directors

Rhea-AI Summary

Ganesh Moorthy joins Celanese Corporation's Board of Directors

Positive

• Ganesh Moorthy's executive leadership experience and perspective in the high-technology sector will be valuable to Celanese's strategy
• His ability to drive growth at Microchip through organic investment decisions and integrating large acquisitions will strengthen Celanese's Board

Negative

• None.

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that Ganesh Moorthy has been elected to the company’s Board of Directors. Mr. Moorthy, 63, is President, Chief Executive Officer, and a member of the Board of Directors of Microchip Technology Incorporated. He will join the Celanese Board effective December 1, 2023, bringing the total number of Board members to eleven (ten of which are independent).

Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Prior to his appointment as CEO and Board Member, Mr. Moorthy served as Microchip’s President and Chief Operating Officer (2016 - 2021), Chief Operating Officer (2009 - 2016), Executive Vice President (2006 - 2009) and Vice President of several Microchip divisions (2001 - 2006). Previously, he served in various executive capacities with other semiconductor companies. Mr. Moorthy currently serves on the Board of Rogers Corporation (since July 2013) and serves on its Audit Committee and as the Chairperson of its Nominating, Governance, and Sustainability Committee.

Mr. Moorthy holds an M.B.A. in Marketing from National University, a B.S. degree in Electrical Engineering from the University of Washington, and a B.S. degree in Physics from the University of Bombay, India.

“We are very excited to welcome Ganesh to the Celanese Board, where his executive leadership experience and deep perspective into the high-technology sector and complex global manufacturing operations will be invaluable to our Board and our strategy,” said Lori Ryerkerk, Chair, Chief Executive Officer and President, Celanese Corporation. “His proven ability to drive growth at Microchip, through both organic investment decisions and integrating large acquisitions, will add strength to our Board as we execute on our key strategies going forward.”

Mr. Moorthy will stand for re-election at the 2024 Annual Meeting of Shareholders.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 13,000 employees worldwide and had 2022 net sales of $9.7 billion. For more information about Celanese Corporation and its product offerings, www.celanese.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018323655/en/

Celanese Contacts:

Investor Relations

Brandon Ayache

+1 972 443 8509

brandon.ayache@celanese.com

Media Relations – Global

Brian Bianco

+1 972 443 4400

media@celanese.com

Media Relations Europe (Germany)

Petra Czugler

+49 69 45009 1206

petra.czugler@celanese.com

Source: Celanese Corporation

FAQ

Who is Ganesh Moorthy?

Ganesh Moorthy is the President, CEO, and a member of the Board of Directors of Microchip Technology Incorporated.

What is Celanese Corporation?

Celanese Corporation is a global chemical and specialty materials company.

How many members are there on Celanese's Board of Directors?

There are eleven members on Celanese's Board of Directors, ten of which are independent.

What is Microchip Technology Incorporated?

Microchip Technology Incorporated is a leading provider of smart, connected, and secure embedded control solutions.

What is Ganesh Moorthy's educational background?

Ganesh Moorthy holds an M.B.A. in Marketing from National University, a B.S. degree in Electrical Engineering from the University of Washington, and a B.S. degree in Physics from the University of Bombay, India.

Will Ganesh Moorthy be re-elected in the future?

Ganesh Moorthy will stand for re-election at the 2024 Annual Meeting of Shareholders.