Avient appoints Ashish Khandpur as CEO effective Dec 1, 2023; Patterson to advise through May 2024

AVIENT CORP

Robert M. Patterson retires as CEO and Board member effective Dec 1, 2023; stays as Special Advisor through May 31, 2024.
Dr. Ashish Khandpur, former 3M Group President, appointed President, CEO and Board member effective Dec 1, 2023.
Richard H. Fearon appointed Non-Executive Chairman of the Board, also effective Dec 1, 2023.
Khandpur receives $1.05M base salary, 120% target annual bonus, 440% LTI target; sign-on of $1.5M cash + $5M RSUs vesting over 4 years.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Robert M. Patterson

President and Chief Executive Officer

AVNT · AVIENT CORP

Effective: 2023-12-01
Successor: Ashish Khandpur
Filed: November 13, 2023, 6:59 PM ET

Robert M. Patterson, Chairman of the Board of Directors and the President and Chief Executive Officer of Avient Corporation (the “Company”), notified the Board of Directors (the “Board”) of the Company that he will retire as President and Chief Executive Officer and as a member of the Board, effective as of December 1, 2023.

Appointed

Dr. Ashish Khandpur

President and Chief Executive Officer

AVNT · AVIENT CORP

Effective: 2023-12-01
Filed: November 13, 2023, 6:59 PM ET

On November 13, 2023, the Company announced that, in connection with Mr. Patterson’s retirement, Dr. Ashish Khandpur has been appointed as President and Chief Executive Officer and a member of the Board, effective December 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Robert M. Patterson departed as President and Chief Executive Officer at AVIENT CORP.

Action: retire
Role: President and Chief Executive Officer

Exact text from the filing

Robert M. Patterson, Chairman of the Board of Directors and the President and Chief Executive Officer of Avient Corporation (the “Company”), notified the Board of Directors (the “Board”) of the Company that he will retire as President and Chief Executive Officer and as a member of the Board, effective as of December 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Dr. Ashish Khandpur was appointed as President and Chief Executive Officer at AVIENT CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On November 13, 2023, the Company announced that, in connection with Mr. Patterson’s retirement, Dr. Ashish Khandpur has been appointed as President and Chief Executive Officer and a member of the Board, effective December 1, 2023.

View on SEC.gov

AVIENT CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-276084

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