Ecovyst CEO Belgacem Chariag departs; Kurt Bitting named CEO; board authorizes $450M share repurchase

Ecovyst Inc.

CEO Belgacem Chariag departed April 25, 2022; receives severance including base salary and target bonus for 24 months.
Kurt Bitting (President of Ecoservices) appointed CEO effective April 25; Thomas Schneberger appointed President.
Board authorized $450M share repurchase program over 4 years; repurchases may be made at management's discretion.
Director Chris Behrens will not stand for re-election; Bryan Brown, Kevin Fogarty, David Bradley appointed to board; Fogarty named non-executive chairman.
Bitting and Schneberger each receive $500K base salary, 100% target bonus, and PSU awards with $250K grant date fair value.

item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Belgacem Chariag

Chief Executive Officer and President

ECVT · Ecovyst Inc.

Effective: 2022-04-25
Successor: Kurt J. Bitting
Filed: April 29, 2022, 7:59 PM ET

Belgacem Chariag departed from his positions as Chief Executive Officer and President and resigned as a member of the Board of Directors (the Board) of the Company, effective April 25, 2022

Appointed

Thomas Schneberger

President

ECVT · Ecovyst Inc.

Effective: 2022-04-27
Filed: April 29, 2022, 7:59 PM ET

Thomas Schneberger, who has served the Company as President of Catalyst Technologies since March 2021, assumed the role of President of the Company effective on April 27, 2022.

Appointed

Kurt J. Bitting

Chief Executive Officer

ECVT · Ecovyst Inc.

Effective: 2022-04-25
Filed: April 29, 2022, 7:59 PM ET

Kurt J. Bitting, who has served the Company as President of Ecoservices since March 2019, assumed the role of Chief Executive Officer effective as of April 25, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Belgacem Chariag departed as Chief Executive Officer and President at Ecovyst Inc..

Action: departed
Role: Chief Executive Officer and President

Exact text from the filing

Belgacem Chariag departed from his positions as Chief Executive Officer and President and resigned as a member of the Board of Directors (the Board) of the Company, effective April 25, 2022

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas Schneberger was appointed as President at Ecovyst Inc..

Action: appointed
Role: President

Exact text from the filing

Thomas Schneberger, who has served the Company as President of Catalyst Technologies since March 2021, assumed the role of President of the Company effective on April 27, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kurt J. Bitting was appointed as Chief Executive Officer at Ecovyst Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

Kurt J. Bitting, who has served the Company as President of Ecoservices since March 2019, assumed the role of Chief Executive Officer effective as of April 25, 2022.

View on SEC.gov

Ecovyst Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-134185

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