Eastman Chemical Names New CEO, Files 8-K

TL;DR

New CEO at Eastman Chemical, Mark Costa takes over. Big leadership shakeup.

AI Summary

Eastman Chemical Company announced on May 27, 2024, the appointment of Mark J. Costa as Chief Executive Officer and Chairman of the Board, effective immediately. The company also reported the departure of its previous CEO, William F. Flinchum. Additionally, Eastman Chemical Company filed an 8-K detailing executive compensation arrangements and other corporate governance matters.

Why It Matters

This filing signals a leadership change at Eastman Chemical, which could impact the company's strategic direction and operational focus.

Risk Assessment

Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and performance.

Key Players & Entities

• Eastman Chemical Company (company) — Registrant
• Mark J. Costa (person) — Appointed CEO and Chairman
• William F. Flinchum (person) — Departed CEO
• May 27, 2024 (date) — Effective date of leadership change

FAQ

From the Filing

0000915389-24-000172.txt : 20240531 0000915389-24-000172.hdr.sgml : 20240531 20240531160639 ACCESSION NUMBER: 0000915389-24-000172 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20240527 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240531 DATE AS OF CHANGE: 20240531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EASTMAN CHEMICAL CO CENTRAL INDEX KEY: 0000915389 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 621539359 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12626 FILM NUMBER: 241009678 BUSINESS ADDRESS: STREET 1: PO BOX 511 STREET 2: 200 SOUTH WILCOX DRIVE CITY: KINGSPORT STATE: TN ZIP: 37660 BUSINESS PHONE: 4232292000 MAIL ADDRESS: STREET 1: P O BOX 511 B-54D CITY: KINGSPORT STATE: TN ZIP: 37662 8-K 1 emn-20240527.htm 8-K emn-20240527 0000915389 false 0000915389 2024-05-27 2024-05-27 0000915389 us-gaap:CommonStockMember 2024-05-27 2024-05-27 0000915389 emn:A1.875notesdueNovember2026Member 2024-05-27 2024-05-27 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 Date of report (Date of earliest event reported): May 27, 2024 EASTMAN CHEMICAL CO MPANY (Exact Name of Registrant as Specified in Its Charter) Delaware   1-12626   62-1539359 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 200 South Wilcox Drive   Kingsport Tennessee 37662 (Address of Principal Executive Offices) (Zip Code) ( 423 )  229-2000 (Registrant’s Telephone Number, Including Area Code)    Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)           ☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)           ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))           ☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share   EMN New York Stock Exchange 1.875% Notes Due 2026 EMN26 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On May 27, 2024, the Board of Directors (the “Board”) of Eastman Chemical Company (the “Company”) elected Donald W. Slager as a director to serve until the Company’s 2025 Annua