AdvanSix (NYSE: ASIX), a diversified chemistry company,
announced today the appointment of Donald P. Newman as a new
independent member of its Board of Directors. Mr. Newman is
currently Executive Vice President, Finance and Chief Financial
Officer of ATI Inc., a global producer of high-performance
materials and solutions for the global aerospace and defense
markets and critical applications in electronics, medical and
specialty energy. Mr. Newman will serve on the Audit Committee and
the Health, Safety and Environmental Committee of the Board of
Directors. AdvanSix’s Board now consists of nine members, including
eight independent directors.
“Don is well recognized for his financial expertise and success
in delivering significant returns and creating shareholder value
across multiple industries, and we are excited to welcome him to
the AdvanSix Board,” said Todd D. Karran, Board Chairman of
AdvanSix. “Don brings decades of public company leadership and
financial experience as well as a keen eye and curiosity for
assessing risks and opportunities, and we look forward to his
leadership on the Board and his contributions as a thought partner
to the AdvanSix executive team.”
Prior to his current role with ATI Inc., Mr. Newman served as
ATI’s Senior Vice President, Finance and Chief Financial Officer
from January 2020 through December 2021. He joined ATI in January
2020, having served as Chief Financial Officer of Stelco Holdings,
Inc., a Canadian-based steel company, from August 2017 through
December 2019. Previously, Mr. Newman was Chief Financial Officer
of Headwaters Incorporated, a construction materials and building
products business, from December 2010 until it was acquired in May
2017. In previous roles, Mr. Newman served as Vice President –
Controller and Interim Chief Financial Officer at Boart Longyear
Limited and as Chief Accounting Officer at ACI Worldwide, Inc., and
held leadership roles for over 12 years at NRG Energy, Inc.
“At AdvanSix, our Board of Directors is committed to continuing
to advance our corporate governance practices and board
effectiveness. Supporting Board refreshment through the appointment
of directors with diverse experiences and skillsets significantly
contributes to our ability to deliver results for key stakeholders.
As we continue in our evolution as a diversified chemistry company,
we are looking forward to leveraging Don’s leadership experience
and unique perspective to advance our strategic priorities and
deliver long-term, sustainable earnings growth and shareholder
value,” said Erin Kane, president and CEO of AdvanSix.
His appointment reflects the company’s commitment to a strong
Board focused on accelerating the company’s growth as a diversified
chemistry company.
“I am thrilled to join AdvanSix at such a pivotal time in its
transformation and look forward to partnering with my fellow Board
members and the AdvanSix executive team to continue to progress the
company’s long-term potential. The AdvanSix team has built a strong
governance foundation that underscores its commitment to operating
with integrity and transparency, and I am looking forward to
supporting a continued focus on sustainable business practices that
enable the company to reliably deliver for its customers, its
communities and all stakeholders,” said Newman.
About AdvanSix
AdvanSix is a diversified chemistry company that produces
essential materials for our customers in a wide variety of end
markets and applications that touch people’s lives. Our integrated
value chain of our five U.S.-based manufacturing facilities plays a
critical role in global supply chains and enables us to innovate
and deliver essential products for our customers across building
and construction, fertilizers, agrochemicals, plastics, solvents,
packaging, paints, coatings, adhesives, electronics and other end
markets. Guided by our core values of Safety, Integrity,
Accountability and Respect, AdvanSix strives to deliver
best-in-class customer experiences and differentiated products in
the industries of nylon solutions, plant nutrients, and chemical
intermediates. More information on AdvanSix can be found at
http://www.advansix.com.
Forward Looking Statements
This release contains certain statements that may be deemed
“forward-looking statements” within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended. All statements,
other than statements of historical fact, that address activities,
events or developments that our management intends, expects,
projects, believes or anticipates will or may occur in the future
are forward-looking statements. Forward-looking statements may be
identified by words such as "expect," "anticipate," "estimate,"
“outlook,” "project," "strategy," "intend," "plan," "target,"
"goal," "may," "will," "should" and "believe" and other variations
or similar terminology and expressions. Although we believe
forward-looking statements are based upon reasonable assumptions,
such statements involve known and unknown risks, uncertainties and
other factors, many of which are beyond our control and difficult
to predict, which may cause the actual results or performance of
the Company to be materially different from any future results or
performance expressed or implied by such forward-looking
statements. Such risks and uncertainties include, but are not
limited to: general economic and financial conditions in the U.S.
and globally; the potential effects of inflationary pressures,
labor market shortages and supply chain issues; instability or
volatility in financial markets or other unfavorable economic or
business conditions caused by geopolitical concerns, including as a
result of the conflict between Russia and Ukraine, the conflict in
Israel and Gaza, and the possible expansion of such conflicts; the
effect of the foregoing on our customers’ demand for our products
and our suppliers’ ability to manufacture and deliver our raw
materials, including implications of reduced refinery utilization
in the U.S.; our ability to sell and provide our goods and
services; the ability of our customers to pay for our products; any
closures of our and our customers’ offices and facilities; risks
associated with increased phishing, compromised business emails and
other cybersecurity attacks, data privacy incidents and disruptions
to our technology infrastructure; risks associated with operating
with a reduced workforce; risks associated with our indebtedness
including compliance with financial and restrictive covenants, and
our ability to access capital on reasonable terms, at a reasonable
cost, or at all, due to economic conditions or otherwise; the
impact of scheduled turnarounds and significant unplanned downtime
and interruptions of production or logistics operations as a result
of mechanical issues or other unanticipated events such as fires,
severe weather conditions, natural disasters, pandemics and
geopolitical conflicts and related events; price fluctuations, cost
increases and supply of raw materials; our operations and growth
projects requiring substantial capital; growth rates and
cyclicality of the industries we serve including global changes in
supply and demand; failure to develop and commercialize new
products or technologies; loss of significant customer
relationships; adverse trade and tax policies; extensive
environmental, health and safety laws that apply to our operations;
hazards associated with chemical manufacturing, storage and
transportation; litigation associated with chemical manufacturing
and our business operations generally; inability to acquire and
integrate businesses, assets, products or technologies; protection
of our intellectual property and proprietary information; prolonged
work stoppages as a result of labor difficulties or otherwise;
failure to maintain effective internal controls; our ability to
declare and pay quarterly cash dividends and the amounts and timing
of any future dividends; our ability to repurchase our common stock
and the amount and timing of any future repurchases; disruptions in
supply chain, transportation and logistics; potential for
uncertainty regarding qualification for tax treatment of our
spin-off; fluctuations in our stock price; and changes in laws or
regulations applicable to our business. You are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Such forward-looking
statements are not guarantees of future performance, and actual
results, developments and business decisions may differ from those
envisaged by such forward-looking statements. We identify the
principal risks and uncertainties that affect our performance in
our filings with the Securities and Exchange Commission (SEC),
including the risk factors in Part 1, Item 1A of our Annual Report
on Form 10-K for the year ended December 31, 2023, as updated in
subsequent reports filed with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240819294053/en/
Media Janeen Lawlor (973) 526-1615
janeen.lawlor@advansix.com
Investors Adam Kressel (973) 526-1700
adam.kressel@advansix.com
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