Celanese Corporation (CE, Financial), a global chemical and specialty materials company, has announced a strategic expansion of its Board of Directors. Effective January 1, 2025, the Board will increase from 11 to 12 members with the election of Christopher Kuehn as a new director. This decision was made during the Board meeting held on December 19, 2024.
Mr. Kuehn is set to serve on the Board until the company's 2025 Annual Meeting of Shareholders, where he will be a nominee for election by the shareholders. Initially, he will contribute his expertise as a member of the Audit Committee. The Board has recognized Mr. Kuehn as an independent director, in compliance with the Securities Exchange Act of 1934 and the New York Stock Exchange's listing standards.
Mr. Kuehn brings a wealth of experience to the Board, qualifying as an "audit committee financial expert" under SEC rules, with significant accounting and financial management expertise. His appointment is free from any conflicts of interest, as he is not related to any current officers or directors of Celanese Corporation, nor is he involved in any transactions requiring disclosure under SEC regulations.
In alignment with Celanese's compensation practices for non-management directors, Mr. Kuehn will receive appropriate compensation and reimbursement for expenses incurred while performing his duties for the company.
This strategic addition to the Board underscores Celanese Corporation's commitment to strengthening its governance and enhancing its financial oversight capabilities. The company looks forward to leveraging Mr. Kuehn's expertise to drive future growth and shareholder value.
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