Westlake Corp adjusts Albert Chao's compensation after CEO-to-chairman transition

WESTLAKE CORP

Albert Chao transitioned from President/CEO to Executive Chairman effective July 15, 2024.
New annual base salary set at $1,019,000.
Target bonus for 2024 set at 105% of base salary under Annual Incentive Plan.
Long-term incentive target expected to match James Chao's current 400% of base salary.
Compensation Committee approved these changes on August 8, 2024.

item 5.02

Executive movements

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Role change

Albert Chao

Executive Chairman

WLK · WESTLAKE CORP

Effective: 2024-07-15
Filed: August 12, 2024, 7:59 PM ET

On August 8, 2024, the Compensation Committee of the Board of Directors (the “Board”) of Westlake Corporation (the “Company”) approved the following changes to the compensation of Albert Chao in connection with Mr. Chao’s transition from President and Chief Executive Officer of the Company to Executive Chairman of the Board.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Albert Chao changed role as Executive Chairman at WESTLAKE CORP.

Action: transitioned
Role: Executive Chairman

Exact text from the filing

On August 8, 2024, the Compensation Committee of the Board of Directors (the “Board”) of Westlake Corporation (the “Company”) approved the following changes to the compensation of Albert Chao in connection with Mr. Chao’s transition from President and Chief Executive Officer of the Company to Executive Chairman of the Board.

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WESTLAKE CORP filing history →

Source: SEC EDGAR

accession 0001193125-24-198308

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