MALVERN, PA — Ecovyst Inc. (NYSE: ECVT) has had a leadership reshuffle. The company recently announced the appointment of Sarah Lorance to its Board of Directors and the nomination of Don Althoff for election at the forthcoming annual stockholders’ meeting.
Effective March 1, 2024, Lorance joined Ecovyst’s Board, expanding it from eight to nine members. Additionally, Althoff is set to fill the impending vacancy left by retiring director Kyle Vann, subject to his election at the stockholders’ meeting scheduled for May 8, 2024.
Kevin M. Fogarty, Chairman of Ecovyst’s Board, expressed his enthusiasm about the new additions. He said, “We welcome Sarah to Ecovyst and congratulate Don on his nomination. We believe Sarah’s extensive background in finance, mergers and acquisitions, risk management, and compliance will complement our existing Board’s knowledge base and skills. Don’s vast experience in the chemical and energy industries will serve as important guidance and counsel.”
Fogarty also emphasized the Board’s commitment to diversity in experience and critical perspectives. He believes the contributions of both Lorance and Althoff will benefit all of Ecovyst’s stakeholders.
Ecovyst’s CEO, Kurt J. Bitting, echoed Fogarty’s sentiments. He stated, “I am proud of our Board and the progress that comes from thoughtful, deliberate refreshment. I am confident that the business experience that both Sarah and Don bring will translate into valuable insights as we continue to advance our strategies for growth and long-term value creation.”
Bitting also recognized the significant contribution of outgoing director Kyle Vann, who has served since 2014, initially for Eco Services and subsequently for Ecovyst. He thanked Vann for his service and wished him well in his future endeavors.
Lorance brings over 25 years of business experience to the table, having served as Owner and Executive Consultant at Autumn Advisors, LLC since 2021. Prior to that, she held various roles at Elevance Health, Inc. (formerly Anthem, Inc.) from 1997 to 2020, most recently as Chief Compliance Officer. Lorance has a strong presence in the nonprofit sector, serving on several boards including the Alzheimer’s Association and VSP Vision. She holds a B.B.A. degree in Accounting from the University of Iowa and is a certified public accountant and NACD Directorship Certified®.
Althoff carries over 40 years of experience in the chemical and energy industries. His career includes stints as Director and Chairman of the Board of Vereson Midstream LP and Alliance Pipeline and Aux Sable LP. He also served as President and CEO of both Veresen Midstream LP and Veresen Inc. Althoff holds a Bachelor of Science in Chemical Engineering from the University of Illinois.
These changes come as Ecovyst continues to grow its presence in the advanced materials and specialty catalysts market. With the addition of Lorance and potentially Althoff, industry watchers will be keen to see how their expertise guides Ecovyst’s strategic growth and value creation in the coming years.
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