Chemical company, Ashland, has announced that the board of directors has elected Guillermo Novo as chairman and CEO of Ashland, effective December 31, 2019. William A. Wulfsohn will continue to serve as chairman and CEO through the end of this year to ensure a smooth transition. Now, the board will be composed of 10 members, nine of whom are independent.
Novo is an accomplished industry executive, bringing more than three decades of specialty materials experience to Ashland. From 2016 to 2019, he served as president and CEO of Versum Materials, a highly regarded semiconductor materials supplier. From 2012 through 2016, Novo worked at Air Products and Chemicals, where he most recently served as executive vice president of materials technologies. Prior to joining Air Products and Chemicals, Novo worked at Dow Chemical where he served as group vice president, Dow Coating Materials, a large specialty chemicals business. Earlier in his career, Novo progressed through a variety of commercial, marketing and management positions over the course of 24 years with Dow and Rohm and Haas. In May 2019, Novo was elected to the Ashland Board, according to a media statement by Ashland.Chemical company, Ashland, has announced that the board of directors has elected Guillermo Novo as chairman and CEO of Ashland, effective December 31, 2019. William A. Wulfsohn will continue to serve as chairman and CEO through the end of this year to ensure a smooth transition. Now, the board will be composed of 10 members, nine of whom are independent.#
Novo holds a B.S. degree in industrial engineering from the University of Central Florida and an MBA from the University of Michigan. He is a member of the advisory board for the College of Engineering & Computer Science at the University of Central Florida.
“Novo’s election represents the completion of a comprehensive and thoughtful assessment by the board regarding the right qualities and experience for the next leader of Ashland. He is a seasoned executive who is exceptionally positioned to lead our company and enhance shareholder value given his deep knowledge of the specialty materials space as well as his years of global leadership and operations experience. Having joined Ashland’s board in May 2019, Novo is ready to hit the ground running, and we are confident that Wulfsohn and Novo working closely together will ensure a seamless transition of responsibilities for all of our stakeholders,” Jay Ihlenfeld, lead independent director of Ashland said.
“I am honoured to succeed Wulfsohn as Ashland’s next CEO and am excited about the opportunity. Today, Ashland has a great business, a clear strategy and a strong team focused on driving results and building on our momentum as an industry leader. I look forward to continuing to work with the Board, our experienced management, and all of our team members to advance Ashland’s strategy and create value for our customers and shareholders,” Novo said.
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