Eastman Board Elects New Director
Eastman Chemical Company's (NYSE:EMN) Board of Directors has elected Donald Slager as a new director. Slager, former CEO of Republic Services, brings extensive experience from the environmental services sector. His expertise is expected to aid Eastman in pursuing its goal of creating a circular economy.
Slager retired as CEO in 2021 after a decade in the role, and has held various leadership positions since starting his career in 1980. He also serves on the board of Martin Marietta Materials.
Eastman is a global specialty materials company with $9.2 billion revenue in 2023. The company operates in more than 100 countries and employs around 14,000 people.
- Donald Slager brings substantial experience from the environmental services industry, expected to benefit Eastman's strategic goals.
- Eastman's focus on creating a circular economy aligns with current sustainability trends, potentially enhancing its market position.
- Eastman reported a significant revenue of approximately $9.2 billion in 2023.
- Mark Costa, Eastman's Board Chair and CEO, emphasizes the value of Slager's leadership and insights for the company.
- Eastman's innovation-driven growth model and commitment to safety and sustainability highlight strong business fundamentals.
- Slager's appointment comes two years after his retirement, which might raise concerns about his current industry engagement.
- No immediate financial impact or specific strategic initiatives were announced alongside the new board appointment, leaving investors with uncertainties.
- Eastman's total revenue of $9.2 billion in 2023, while substantial, does not indicate recent growth or compare against previous revenues.
Don Slager (Photo: Business Wire)
“We are delighted to have Don join our Board of Directors. He brings a wealth of experience and knowledge in the environmental services sector, which is critical for Eastman as we pursue our vision of creating a more circular economy for our products and solutions,” said Mark Costa, Board Chair and CEO. “His expertise, proven leadership, and unique insights will be great assets to our Board and our company.”
Slager retired as CEO of Republic Services, Inc., in 2021, after serving in that role since 2011. He joined the company in 2008 as President and Chief Operating Officer, following the merger with Allied Waste Industries, Inc., where he held the same position. Slager started his career in the environmental services industry in 1980 at Waste Management, Inc., and went on to hold various leadership roles at National Waste Services, Inc., before its merger with Allied.
In addition to his position on Eastman’s Board of Directors, Slager currently serves on the board of Martin Marietta Materials, Inc., a leading supplier of construction aggregates and heavy building materials.
Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive and diverse company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2023 revenue of approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20240530552527/en/
Media: Tracy Kilgore Addington
423-224-0498 / tracy@eastman.com
Investors: Greg Riddle
212-835-1620 / griddle@eastman.com
Source: Eastman Chemical Company
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