Celanese Corporation, a global leader in chemical and specialty materials, has announced a significant leadership transition. Effective January 1, 2025, Scott Richardson, currently serving as Chief Operating Officer (COO), will assume the role of Chief Executive Officer (CEO) and join the Board of Directors. Richardson will succeed Lori Ryerkerk, who will step down as Chairman, CEO, and director at the end of 2024. Additionally, Edward Galante, a longstanding independent director on the Board, has been appointed Chair of the Board, effective upon Ryerkerk’s departure.
Leadership Transition Details
Scott Richardson, with over 20 years at Celanese, has held numerous strategic positions, including Chief Financial Officer (CFO) and leadership roles in Celanese’s Engineered Materials (EM) and Acetyl Chain (AC) businesses. He has been instrumental in developing operating models that align these businesses as complementary value drivers. His deep expertise in operational efficiency and strategic management positions him as a natural successor to the CEO role.
In accepting his new position, Richardson expressed gratitude for the Board’s confidence in his leadership and reaffirmed his commitment to driving Celanese’s growth. “Celanese has a legacy of resilience and innovation, even during challenging times. I am dedicated to enhancing operational efficiency, optimizing cost structures, and boosting cash flow to position the company for long-term success,” he said.
Lori Ryerkerk, who has served as CEO since 2019, reflected on her tenure, emphasizing the company’s achievements during her leadership. “Leading Celanese has been the pinnacle of my career. I am confident in Scott’s capabilities to lead the company into a future of greater strength and success,” she remarked.
A Vision for the Future
The Board of Directors expressed confidence in Richardson’s leadership. Kim Rucker, Lead Independent Director, highlighted the deliberate and thoughtful succession process that led to Richardson’s appointment. “Scott’s comprehensive understanding of the business and strategic acumen makes him the ideal leader for this pivotal moment,” Rucker stated. The Board also commended Ryerkerk’s contributions, particularly her ability to navigate Celanese through complex macroeconomic environments.
About the New Leadership
Galante, the newly appointed Chair of the Board, has been a director at Celanese since 2013. He brings decades of executive experience from his tenure at ExxonMobil, where he held senior roles, including Senior Vice President and Executive Vice President of ExxonMobil Chemical Company. His extensive expertise in global operations and strategic leadership will support the company’s continued growth.
Celanese Moving Forward
Under the new leadership, Celanese aims to build on its legacy of innovation and operational excellence. The transition represents a continuation of the company’s commitment to creating sustainable value for shareholders, customers, and employees. With Richardson at the helm and Galante’s guidance as Chair, Celanese is well-positioned to address future challenges and capitalize on opportunities for growth and innovation.
