Sign in

Mark J. Costa

Chair of the Board and Chief Executive Officer at EASTMAN CHEMICAL
Board
Since January 2014
Age
58 years
Tenure
Joined EMN in June 2006 and advanced from Chief Marketing Officer to Executive Vice President, President, and ultimately became CEO in January 2014 and Chair of the Board in July 2014.

Also at EASTMAN CHEMICAL

BAL
Brad A. Lich
Executive Vice President and Chief Commercial Officer
SGC
Stephen G. Crawford
Executive Vice President, Methanolysis Operations and Worldwide Engineering & Construction Transformation
WTMJ
William T. McLain, Jr.
Executive Vice President and Chief Financial Officer

About

Mark J. Costa, 58 years old, has established himself as a transformative leader with extensive experience in corporate strategy and marketing. His early career included senior consulting roles where he honed his expertise in business transformation and capability building.

After joining EMN in June 2006 as Chief Marketing Officer, he quickly demonstrated his ability to drive growth and operational excellence. His progression through key leadership roles, including Executive Vice President and President, highlights a career marked by strategic foresight and a commitment to developing innovative growth strategies.

Since ascending to the role of CEO in January 2014 and later being named Chair of the Board in July 2014, he has steered the company through significant strategic and operational milestones. His leadership has been characterized by an emphasis on sustainability, innovation, and efficiency, ensuring that the company remains competitive in a dynamic market environment.

$EMN Performance Under Mark J. Costa

Past Roles

OrganizationRoleDate RangeDetails
Eastman Chemical Company President and Member of the Board of DirectorsMay 2013 - January 2014Served as President before transition to CEO
Eastman Chemical Company Executive Vice President, Specialty Products and Chief Marketing OfficerMay 2009 - May 2013Expanded role to lead specialty products while continuing as CMO
Eastman Chemical Company Executive Vice President, Specialty Plastics and Performance Polymers Head and Chief Marketing OfficerAugust 2008 - May 2009Assumed profit and loss responsibilities for these businesses
Eastman Chemical Company Chief Marketing Officer and Leader of Corporate Strategy and Business DevelopmentJune 2006 - August 2008Responsible for marketing and corporate strategy initiatives
Monitor Group Senior Partner1988 - Pre-2006Worked at a global management consulting firm and developed corporate strategies

External Roles

OrganizationRoleDate RangeDetails
International Flavors & Fragrances Inc. Board of DirectorsN/ACurrent board position

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,360,810 AnnualFixed cash salary
Company Contributions to Nonqualified Deferred Compensation Plan$51,212 AnnualPart of total contributions of $67,711 which also includes $16,500 to the 401(k) plan
All Other Compensation$415,273 AnnualIncludes company contributions and additional non-itemized components

Performance Compensation

Data from  FY 2023

Unit Performance Plan (UPP) Payout

Metric (Unit/Scale)ThresholdTargetMaximum/CapWeight (%)Actual Performance FactorCitations
Adjusted EBIT (USD Billions)$1.097B $1.30B Payout multiplier capped at 200% at or above 115% of target 500.61
Operating Cash Flow (USD Billions)$1.374B $1.40B Payout multiplier capped at 200% at or above 115% of target 500.95

Safety Modifier:

  • OSHA Recordable Incident Rate of 0.42 leads to no adjustment.

Total Payout Factor:

  • Sum of weighted factors: 0.305 + 0.475 = 0.78 (78%).

Payout Details:

  • Target Payout: $2,047,500 (150% of base salary).
  • Actual Payout: $1,597,050 (78% of target payout).

Evaluation Period & Vesting:

  • The performance period for the related performance share awards is 2023-2025.
  • Vesting is contingent on meeting the specified performance metrics over this period.

Stock Awards (Performance Share Awards)

Detail (Unit/Scale)ValueCitations
Grant DateJanuary 1, 2023
Grant Date Fair Value$11,208,310
Grant Date Stock Price / Exercise Price$83.84 per share
Estimated Shares at Threshold19,258 shares
Estimated Shares at Target89,868 shares
Estimated Shares at Maximum222,532 shares

Performance Metrics & Conditions:

  • Awards vest based on achieving performance conditions including relative TSR and Return on Capital over the 2023-2025 period.
  • Payout percentages: 25% at threshold (40% of target performance), 100% at target, and up to 200% at or above 115% of target.

Option Awards

Detail (Unit/Scale)ValueCitations
Grant DateFebruary 24, 2023
Grant Date Fair Value$2,472,937
Grant Date Stock Price / Exercise Price$83.84 per share
Number of Options Granted114,118 options

No specific performance metrics or targets have been provided for the Option Awards.