Venator Announces Changes to Board of Directors

Rhea-AI Summary

Venator Materials PLC (NYSE: VNTR) announced on August 9, 2022, that Kathy Patrick has resigned from its Board of Directors due to other professional commitments. She has served since the company's IPO in 2017. Miguel Kohlmann has been appointed as a new independent director, bringing substantial industry experience, including his previous role as CEO and service on various boards. Kohlmann will also join the Audit and Compensation Committees. The company aims to leverage Kohlmann's expertise for strategic enhancement.

Positive

• Appointment of Miguel Kohlmann adds substantial industry experience to the board.
• Kohlmann's independent status may enhance board effectiveness and oversight.

Negative

• Resignation of Kathy Patrick may lead to concerns about board continuity.
• Potential experience gap with the departure of a long-serving board member.

WYNYARD, UK, Aug. 9, 2022 /PRNewswire/ -- Venator Materials PLC (NYSE: VNTR) ("Venator") today announced the resignation of Kathy Patrick from its Board of Directors and the appointment of Miguel Kohlmann to its Board of Directors, both effective August 9, 2022.

Ms. Patrick has served as a director since the Company's IPO in 2017 and served on Venator's Audit Committee and Compensation Committee at the time of her resignation. She is resigning due to other professional commitments.

Mr. Kohlmann is based in Europe and has substantial industry experience as a former CEO and via service on a number of boards, including the listed Danish building materials group H+H.  Mr. Kohlmann is an independent director and will serve as a member of Venator's Audit Committee and Compensation Committee.

Simon Turner, President and CEO of Venator, commented. "We would like to thank Kathy for her invaluable service to our Board and the Company and we are pleased to welcome Miguel to our Board of Directors. Miguel's breadth of experience will be a valuable addition to an already strong Board that is actively involved in strategy and value enhancement for our business."

About Venator
Venator is a global manufacturer and marketer of chemical products that comprise a broad range of pigments and additives that bring color and vibrancy to buildings, protect and extend product life, and reduce energy consumption. We market our products globally to a diversified group of industrial customers through two segments: Titanium Dioxide, which consists of our TiO₂ business, and Performance Additives, which consists of our functional additives, color pigments and timber treatment businesses. Based in Wynyard, U.K., Venator employs approximately 3,500 associates and sells its products in more than 110 countries.

Social Media:
Twitter: www.twitter.com/VenatorCorp 
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LinkedIn: www.linkedin.com/company/venator-corp

 

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SOURCE Venator Materials PLC

FAQ

What changes were announced regarding Venator's board on August 9, 2022?

Venator announced the resignation of Kathy Patrick and the appointment of Miguel Kohlmann as an independent director.

Why did Kathy Patrick resign from Venator's Board of Directors?

Kathy Patrick resigned due to other professional commitments.

Who is Miguel Kohlmann and what is his background?

Miguel Kohlmann is a former CEO with significant industry experience, serving on several boards including the Danish group H+H.

What committees will Miguel Kohlmann serve on at Venator?

Kohlmann will serve on Venator's Audit Committee and Compensation Committee.