Guillermo Novo

Chair of the Board and Chief Executive Officer at Ashland Inc

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 Inc

AFA

Alessandra Faccin Assis

Senior Vice President and General Manager, Life Sciences and Intermediates

Dago Caceres

Senior Vice President and General Manager, Specialty Additives

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

Organization	Role	Date Range	Details
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

Organization	Role	Date Range	Details
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 Name	Amount	Payment Schedule	Additional 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

Metric	Threshold	Target	Maximum	Actual Performance	Payout
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 Type	Grant Date	Grant Date Fair Value ($)	Units Granted	Vesting Schedule	Performance Metrics/Conditions
PSUs	11/14/2023	$3,000,000 (total award)	39,396	Cliff vesting on 12/31/2026	RONA (40%), rTSR (60%)
RSUs	11/14/2023	$2,000,000 (total award)	26,263	Cliff vesting on 12/31/2026	Time-based, not performance-tied

Long-Term Incentive Performance Plan (LTIPP)

Metric	Weight	Target	Adjusted Performance	Combined Payout
RONA	40%	17.1%	11.6% (0% payout)	N/A
rTSR	60%	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