Eastman Chemical Company announced that the Board of Directors has selected CEO and director Mark J. Costa to serve as chairman of the board, effective June 30, 2014m upon the retirement of James P. Rogers as executive chairman of the board.
“Mark is a demonstrated leader, and we are pleased to have him serve as chairman,” said Stephen R. Demeritt, independent lead director, speaking on behalf of the Board of Directors. “We are grateful to Jim for his leadership, and have every confidence that Mark and the senior leaders will continue to execute the company’s strategy to deliver superior value and strong, consistent earnings growth.”
“I am humbled by the confidence that the Board has placed in me and my leadership team. I look forward to working with Steve as together we lead the Board,” said Costa. “I also greatly appreciate Jim’s guidance and support, especially during my transition as CEO and a director. He is a tremendous leader, and I and the other directors wish him the best in his retirement.”
Costa, 48, has been a director of Eastman since May 2013 and succeeded Rogers as CEO on Jan. 1, 2014. He has held a number of executive positions since joining Eastman in 2006, and has been instrumental in developing Eastman’s growth strategies for its businesses. Costa has also led Eastman’s manufacturing, global supply chain, marketing, innovation and sustainability organizations.