Curtis Espeland
HuntsmanAbout Curtis E. Espeland
Curtis E. Espeland, age 60, is an independent director of Huntsman Corporation, serving since 2022, with committee assignments on the Audit and Compensation Committees . He is the former Executive Vice President and Chief Financial Officer of Eastman Chemical Company, with over 20 years in specialty materials and chemicals, and holds a B.A. in Accounting (Iowa State University), an MBA (University of Chicago), and completed Harvard Business School’s Advanced Management Program .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Eastman Chemical Company | CFO (2008–2020); EVP (2014–2020); VP & Chief Accounting Officer (2002–2008) | 2002–2020 | Led >$9B M&A strategy; integration of major acquisitions; oversaw corporate strategy, IT, cybersecurity, ERM, investor relations, accounting, tax |
| Arthur Andersen | Audit/financial due diligence/business consulting | 1986–1996 | Banking, manufacturing, media, telecom; global experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lincoln Electric Holdings Inc. (US-listed) | Lead Independent Director; Audit Committee member; Finance Committee member; former Audit Chair (5 years) | 2012–present | Audit leadership and financial oversight credentials |
| Nouryon | Independent Director; Audit Committee Chair | — | Governance and audit leadership |
| Iowa State University | Dean’s Advisory Council, Ivy College of Business | — | Advisory role |
Board Governance
- Independence: Board determined Espeland is independent under NYSE and company criteria .
- Committee assignments: Audit and Compensation Committees; Audit met 4 times in 2024; Compensation met 8 times .
- Attendance: In 2024, each director attended at least 75% of Board and applicable committee meetings; Board met six times; non-management directors held four executive sessions .
Fixed Compensation
| Component (2024) | Amount (USD) | Notes |
|---|---|---|
| Annual retainer | $125,000 | Standard director cash retainer |
| Audit Committee membership fee | $20,000 | Committee member fee |
| Compensation Committee membership fee | $10,000 | Committee member fee |
| Total cash | $155,000 | Sum aligns with program table |
Performance Compensation
| Grant | Grant Date | Type | Shares/Units | Grant-Date Fair Value (USD) | Vesting/Settlement |
|---|---|---|---|---|---|
| Annual director equity | 02/15/2024 | Fully-vested stock award or deferred stock units (director election) | 6,895 shares | $165,000 (6,895 × $23.93) | Fully vested at grant; DSUs deliverable upon termination of service |
Huntsman’s non-employee director equity is not conditioned on performance (no PSUs/options); awards are fully-vested stock or DSUs to align director interests without short-term metrics .
Other Directorships & Interlocks
- Current public company boards: Lincoln Electric Holdings Inc. (Lead Independent Director) .
- Private/other boards: Nouryon (Audit Chair); Iowa State University Dean’s Advisory Council .
- Compensation Committee interlocks: Huntsman’s 2024 Compensation Committee members (Sonia Dulá—Chair; Curtis E. Espeland; José Muñoz) were not officers/employees and had no substantial business dealings with Huntsman; no insider participation or interlocks disclosed .
Expertise & Qualifications
- Deep CFO and audit background; led multi-billion-dollar M&A, portfolio transformation, and margin expansion at Eastman .
- Expertise spans corporate strategy, ERM, investor relations, accounting/financial reporting, taxation, IT and cybersecurity oversight—highly relevant for Audit and Compensation committee work .
Equity Ownership
| Holder | Common Shares Beneficially Owned | % of Shares Outstanding |
|---|---|---|
| Curtis E. Espeland | 39,845 | <1% |
- Insider trading/hedging/pledging: Company policy prohibits hedging and short-sales; as of the proxy, no directors/executive officers engaged in hedging; pledging is not prohibited but requires caution (e.g., margin accounts) .
- Stock ownership guidelines: Directors must hold at least 3× annual cash retainer; as of July 15, 2024, all directors/NEOs had met or were progressing toward guidelines within a reasonable period .
Insider Trades (Form 4)
| Date | Security | Action | Amount | Post-Transaction Holdings | Source |
|---|---|---|---|---|---|
| 02/15/2024 | Common Stock | Award (A) | 6,895 | 30,128 (direct) |
Governance Assessment
- Board effectiveness: Espeland’s CFO, audit, and M&A credentials strengthen Audit oversight and Compensation governance, aligning with Huntsman’s committee skill needs; he serves on two key committees with substantial 2024 meeting cadence (Audit: 4; Compensation: 8), and met the 75% attendance threshold—supportive of investor confidence .
- Independence & conflicts: Confirmed independent; no related-party transactions disclosed involving Espeland; Compensation Committee lacks insider participation and interlocks—reducing conflict risk .
- Alignment: Receives a balanced cash/equity director package with fully-vested stock/DSUs and company ownership guidelines; beneficial ownership reported; company prohibits hedging and discourages pledging—positive alignment signals .
- RED FLAGS: None identified specific to Espeland (no hedging, no related-party exposure, Section 16 filings timely per company review); monitor pledging (policy allows with caution) and any future cross-directorship changes for potential interlocks .