Celanese Leadership Changes: One Promoted, One Succeeds

On December 10, 2024, Celanese Corporation officially announced on its website that the current Chief Operating Officer, Mr. Scott Richardson, will be promoted to Chief Executive Officer effective January 1, 2025, and will join the company's board of directors. Mr. Richardson will succeed Ms. Lori Ryerkerk, who plans to resign from her positions as President, CEO, and a member of the Celanese board by the end of this year.

Simultaneously, upon Ms. Ryerkerk's departure, Mr. Edward Galante will assume the role of Chairman of the Celanese board. Mr. Galante has served as an independent director of the company since 2013.

Mr. Scott Richardson has served at Celanese for over twenty years, holding various management positions, including Chief Operating Officer, Chief Financial Officer, and other leadership roles, responsible for managing the company's global Engineering Materials (EM) and Acetyl Chain (AC) businesses. Mr. Richardson has played a significant role in creating and implementing the EM/AC operating model and has worked as a strategic partner devoted to value creation.

Regarding Mr. Scott A. Richardson's background, he has served as Celanese's Executive Vice President and Chief Operating Officer since November 8, 2023, previously holding the position of Executive Vice President and Chief Financial Officer since February 2018. Before serving as CFO, Mr. Richardson was the Senior Vice President of Engineering Materials Business from December 2015, fully responsible for strategy, product and business management, planning, and product portfolio development and distributor management. He served as Vice President and General Manager of the Acetyl Chain from 2011.

Mr. Richardson has held various positions at Celanese, including Global Acetyl Business Director, Investor Relations Manager, Acetyl Business Analysis Manager, and Polyols and Solvents Finance Manager. During this time, he was assigned to work in China twice, gaining a deep understanding of Chinese culture. He joined Celanese in 2005.

Before joining Celanese, Mr. Richardson held multiple financial, operational, and leadership roles at American Airlines. He holds an MBA from Texas Christian University and a Bachelor's degree in Accounting from Westminster College.

Regarding Mr. Edward G. Galante, he was elected to the Celanese board in 2012. Prior to this, Mr. Galante held senior vice president and management committee member roles at ExxonMobil from 2001 to 2006, as well as Executive Vice President of ExxonMobil Chemical from 1999 to 2001. Before that, he held various management positions at the company for over 30 years.

Mr. Galante serves as an independent director of Clean Harbors and Marathon Oil and has previously been an independent director of Linde. He holds a Bachelor's degree in Civil Engineering from Northeastern University.