CELANESE CORPORATION (NYSE:CE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Celanese Corporation (the Company) increased the size of the
Board from nine to eleven members and elected Bennie W. Fowler
and David C. Parry as Class I members of the Board, effective
February 15, 2017, to fill the vacancies. There are no
arrangements or understandings between Mr. Fowler or Mr. Parry
and any other person to which they were elected as directors.
directors, Mr. Fowler and Mr. Parry will receive an annual
director retainer fee of $100,000 in cash and $140,000 in
time-vesting restricted stock units, to be pro-rated accordingly
from the effective date of their election. The restricted stock
units will vest in full one year from the date of grant. In
addition, in accordance with Company policy, Mr. Fowler and Mr.
Parry will be reimbursed for actual expenses incurred on behalf
of the Company.
until the Company’s 2017 Annual Meeting of Stockholders to be
held on or about April 20, 2017 at which time they will be
nominees for election by the Company’s stockholders. Initially,
Mr. Fowler will serve as a member of the Environmental, Health,
Safety and Public Policy Committee and Mr. Parry will serve as a
member of the Nominating and Corporate Governance Committee.
Parrys elections are filed hereto as Exhibits 99.1 and 99.2,
respectively, and incorporated by this reference.
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Exhibit
Number
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Description
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99.1
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Press Release dated February 16, 2017
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99.2
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Press Release dated February 16, 2017
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About CELANESE CORPORATION (NYSE:CE)
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products. It engineers and manufactures a range of products, which serves a range of end-use applications, including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. The Company operates in North America, Europe and Asia and consists of approximately 20 global production facilities. CELANESE CORPORATION (NYSE:CE) Recent Trading Information
CELANESE CORPORATION (NYSE:CE) closed its last trading session 00.00 at 89.64 with 1,230,417 shares trading hands.