- Push-out Score determined
- After seven years in the position
- Praise for Rohr
- Lori Ryerkerk taking over
- Rohr will remain as Executive Chairman at Celanese
- Rohr said 99 words
(exechange) — Dallas, Texas, April 8, 2019 — Mark Rohr, chief executive of Celanese, leaves the position. It is a change at short notice. As announced by Celanese Corp. in a news release and in a regulatory filing published on Monday, April 8, 2019, Mark C. Rohr leaves his post as Chief Executive Officer at the chemical and specialty materials company after seven years in the role, effective May 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 7.8 years, according to data compiled by exechange.
Mark Rohr’s duties will be taken over by Lori J. Ryerkerk, most recently Executive Vice President of Global Manufacturing of Royal Dutch Shell.
The fact that Mark Rohr’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
No reason given
In the announcement, Celanese did not explicitly explain the reason for Mark Rohr’s imminent move, leaving room for speculation.
Rohr will remain as Executive Chairman at Celanese
“Mark Rohr, Chairman and Chief Executive Officer (CEO), will assume the position of Executive Chairman of Celanese’s Board of Directors,” Celanese said.
Celanese said: “After an extensive search, the Board has selected Lori Ryerkerk to succeed Rohr as CEO. The appointments are effective May 1, 2019 and at that time Ryerkerk will also join Celanese’s Board.”
Celanese further said: “Mark C. Rohr, who has served as Chairman, Chief Executive Officer and President of the Company since April 2012, will continue to serve as a director and has been elected as the Company’s Executive Chairman effective as of May 1, 2019.”
Share price increase since April 2012
The announcement follows an increase in Celanese Corporation’s share price of 116 percent since April 2012.
In the position of CEO since 2012
Rohr was named the Company’s Chairman, President and Chief Executive Officer in April 2012 after being a member of the Company’s board of directors since April 2007.
Prior to joining the Company, Rohr was Executive Chairman and a director of Albemarle Corporation, a global developer, manufacturer and marketer of highly engineered specialty chemicals.
During his 11 years with Albemarle, he held various executive positions, including Chairman and Chief Executive Officer.
Earlier in his career, Rohr held executive leadership roles with various companies, including Occidental Chemical Corporation and The Dow Chemical Company.
Rohr has served on the board of directors of Ashland Global Holdings Inc. (formerly Ashland Inc.) since 2008, and currently serves as a member of its audit committee and its environmental, health & safety committee.
In 2016, he also served as Chairman of the American Chemistry Council’s Executive Committee and as Chairman of the International Council of Chemical Associations.
In Rohr’s Executive Chairman role, he will remain focused on guiding the strategic options to unlock value for Celanese shareholders and overseeing the achievement of the company’s 2020 growth strategy, while working closely with Ryerkerk to ensure a seamless CEO transition.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the likelihood that Mark Rohr was pushed out or felt pressure to leave the position.
exechange reached out to Celanese and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 15.2019 ($).