Huntsman CEO Peter Huntsman Takes Addl. Role Of Chairman, Effective Jan. 1

(RTTNews) - Huntsman Corp. (HUN), a manufacturer of differentiated and specialty chemicals, announced Tuesday that President and Chief Executive Officer Peter Huntsman will take an additional role of Chairman of the Board of Directors, effective January 1, 2018.

He succeeds the company's founder, Jon Huntsman, who will be stepping down as Executive Chairman on December 31.

The company noted that the role of Executive Chairman will be eliminated. After serving as Executive Chairman of the company he founded 48 years ago, Huntsman will continue to serve on the Board of Directors as a Director and Chairman Emeritus.

New Chairman of the Board and CEO Peter Huntsman said, "I am honored to be taking on this responsibility at a time when the Company has never been stronger and had more opportunities before it. This will be a smooth transition as our founder, my father, will continue in a valuable capacity as a Board member, maintaining vital relations with customers, suppliers, and policy makers as well as sharing his total 56 years of industry experience."

Jon Huntsman, Sr. further said, "It's a high honor to turn the chairmanship role over to Peter Huntsman, who I consider to be one of the world's outstanding CEO's. Huntsman Corporation will continue to experience its sound growth and strong financial controls under Peter's experienced oversight."