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Guillermo Novo

Chair of the Board and Chief Executive Officer at ASHLAND
Board
Since December 2019
Age
62 years
Education
Holds a Bachelor of Science degree in Industrial Engineering from the University of Central Florida and a Master of Business Administration from the University of Michigan.
Tenure
Joined Ashland in May 2019 as a director, was promoted to Chair of the Board in May 2019, and later became the Chief Executive Officer in December 2019.

Also at ASHLAND

AFA
Alessandra Faccin Assis
Senior Vice President and General Manager, Life Sciences and Intermediates
DC
Dago Caceres
Senior Vice President and General Manager, Specialty Additives
ED
Eileen Drury
Senior Vice President and Chief Human Resources Officer

About

Guillermo Novo has built a global career, having worked in South America, the United States, and Asia, which reflects his broad international outlook and extensive leadership experience in the specialty materials and chemicals industries.

Beginning his career at Rohm and Haas, he advanced through key roles that included his time as a Vice President and later as a Corporate Officer, experiences that laid the foundation for his later successes at Dow Chemical Company and Air Products and Chemicals.

At Ashland, his rapid progression—from joining the board on May 22, 2019 to assuming the roles of Chair of the Board and Chief Executive Officer—underscores his significant impact on the company, where he has steered portfolio optimization and cost reduction initiatives while also serving on other major public company boards.

$ASH Performance Under Guillermo Novo

Past Roles

OrganizationRoleDate RangeDetails
Versum Materials, Inc. (NYSE: VSM) President and Chief Executive Officer; Board Member 2016 to 2019 Held a leadership role before joining ASH
Air Products and Chemicals, Inc. (NYSE: APD) Executive Vice President, Materials Technologies 2014 to 2016 N/A
Air Products and Chemicals, Inc. (NYSE: APD) Senior Vice President, Electronics, Performance Materials, Strategy, and Technology Joined in September 2012 N/A
Dow Chemical Company (NYSE: DOW) Group Vice President, Dow Coating Materials N/A Position held prior to his role at Air Products; noted during a period of merger activity (Dow merged with Rohm and Haas in 2009)
Rohm and Haas Company Various executive roles (including Vice President in 1998; Corporate Officer & Group Executive in 2006) 1986 - N/A (over 24 years) Worked in South America, the United States, and Asia

External Roles

OrganizationRoleDate RangeDetails
PPG Industries, Inc. (NYSE: PPG) Board of Directors; Chair of the Audit Committee; Member of the Human Capital Management and Compensation Committee N/A Current active role outside of ASH

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,128,500 Annual No change from 2023
All Other Compensation$132,948 Varies Includes Perquisites ($28,208), Matching Contributions under Qualified Savings Plan ($26,300), Matching Contributions under Non-Qualified Defined Contribution Plan ($69,798), Other ($8,641)

Performance Compensation

Data from  FY 2024

Annual Incentive Plan

MetricThresholdTargetMaximumActual PerformancePayout
Incentive Payment$564,250 $1,410,625 $2,821,250 104.8% of Target $1,477,772

Performance Metrics: Adjusted EBITDA, Innovation Revenue, Portfolio Restructuring, and EH&S (Modifier: 2.5%).

Equity Incentive Plan Awards

Award TypeGrant DateGrant Date Fair Value ($)Units GrantedVesting SchedulePerformance Metrics/Conditions
PSUs11/14/2023 $3,000,000 (total award) 39,396 Cliff vesting on 12/31/2026 RONA (40%), rTSR (60%)
RSUs11/14/2023 $2,000,000 (total award) 26,263 Cliff vesting on 12/31/2026 Time-based, not performance-tied

Long-Term Incentive Performance Plan (LTIPP)

MetricWeightTargetAdjusted PerformanceCombined Payout
RONA40% 17.1% 11.6% (0% payout) N/A
rTSR60% 50th Percentile 32nd Percentile (64.3% of target) 38.6% of Target

Grant Details:

  • Grant Date: 11/14/2023
  • Grant Date Stock Price: $76.15
  • Total LTIPP Award: $5,000,000 comprised of 60% PSUs and 40% RSUs

Vesting Schedule:

  • PSUs: Vest at cliff on 12/31/2026 subject to performance over the 2024-2026 period
  • RSUs: Vest in equal installments on each anniversary of the grant date over three years