PolyOne Corporation (NYSE:POL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Agreements of Certain Officers.
On March7, 2018, the Board of Directors (the “Board”) of PolyOne Corporation (the “Company”) increased its size from ten to eleven and elected Robert E. Abernathy as director, effective immediately. Mr.Abernathy will serve for an initial term ending at the Company’s 2018 Annual Meeting of Shareholders. Mr.Abernathy was also named to the Audit Committee of the Board.
Mr.Abernathy, 63, is the Retired Chairman and Chief Executive Officer of Halyard Health, Inc. (“Halyard”), a medical technology company. Mr.Abernathy served as Chief Executive Officer of Halyard from its spin off from Kimberly-Clark in October 2014 until his retirement in June 2017, during which time he also served as Chairman. He continued as Chairman until September 2017. Prior to joining Halyard, Mr.Abernathy worked for Kimberly-Clark, a global personal care products company, in numerous roles of increasing responsibility, including President, Global Healthcare, from June 2014 until October 2014, and Executive Vice President, from November 2013 to June 2014.
As a non-employee director, Mr.Abernathy will receive compensation in the same manner as the Company’s other non-employee directors, which compensation the Company previously disclosed in its definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on March31, 2017. The Company entered into an Indemnification Agreement with Mr.Abernathy. The Indemnification Agreement will be in the same form as the form indemnification agreement for directors that the Company previously reported the Board had approved on a Current Report on Form 8-K, filed with the Securities and Exchange Commission on July5, 2006.
About PolyOne Corporation (NYSE:POL)
PolyOne Corporation is a provider of polymer materials, services and solutions. The Company offers specialty polymer formulations, color and additive systems, plastic sheet and packaging solutions, and polymer distribution. It operates in five segments: Color, Additives and Inks, which provide color and additive concentrates in solid and liquid form for thermoplastics, dispersions for thermosets; Specialty Engineered Materials, which provide specialty polymer formulations, services and solutions for designers, assemblers and processors of thermoplastic materials across a range of markets and end use applications; Designed Structures and Solutions, which provide solutions for engineered polymer structures, rigid barrier packaging and specialty cast acrylics; Performance Products and Solutions, which consist of the Geon Performance Materials and Producer Services business units, and PolyOne Distribution, which distributes over 3,500 grades of engineering and commodity grade resins.