Ashland announces operations leadership change as Bostaph retires

WILMINGTON, Del. - Ashland Inc. (NYSE:ASH), a global additives company with a market capitalization of $2.4 billion and currently trading at $52.44, announced Monday that Karl Bostaph, senior vice president of operations, will retire on October 1, 2025, after a career spanning over three decades with the company and its predecessors. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics.

Wayne Muil, previously global director of operations for specialty additives, has been appointed as the new senior vice president of operations, effective immediately. Muil, who joined Ashland in 2024, will report directly to Guillermo Novo, chair and chief executive officer. This leadership transition comes as Ashland maintains a strong financial position, with InvestingPro data showing liquid assets exceeding short-term obligations and a healthy current ratio of 2.32.

To ensure continuity, Bostaph will serve as a special advisor for operations until his retirement, working alongside Muil to facilitate a seamless transition for customers, operations, and commercial business teams.

Bostaph’s career began with Hercules in 1990, which was later acquired by Ashland in 2008. During his tenure, he held various positions in research and development, quality, engineering, process technology, and manufacturing across multiple locations in the United States and internationally.

Muil brings more than 25 years of experience in manufacturing and supply chain management within the chemical industry. His previous roles include vice president of manufacturing and engineering at Sadara Chemical Company, a joint venture between Saudi Aramco and Dow Chemical.

In his new position, Muil will oversee Ashland’s global production facilities and tolling partners across the Americas, Europe, and Asia Pacific.

"I want to thank Karl for his significant contributions and many years of service to Ashland, and congratulate Wayne on his new role," said Novo in the press release statement.

Ashland Inc. is a global additives and specialty ingredients company that serves customers in various markets including architectural coatings, construction, energy, food and beverage, personal care, and pharmaceutical. The company has maintained dividend payments for 55 consecutive years and currently offers a dividend yield of 3.11%. Investors seeking deeper insights into Ashland’s financial health and growth prospects can access comprehensive analysis through InvestingPro’s detailed research reports, which are available for over 1,400 US stocks.

In other recent news, Ashland Inc. reported its second-quarter results, which fell short of analyst expectations. The company posted earnings per share of $0.99, missing the forecasted $1.14, and recorded revenue of $479 million, below the anticipated $513 million. Ashland has revised its full-year sales guidance to a range of $1,825 million to $1,900 million. Meanwhile, as part of its $60 million optimization plan, Ashland announced the closure of two New Jersey plants, with production moving to other facilities in Virginia and Massachusetts. This move is part of a broader strategy to consolidate operations and improve cost competitiveness.

In the realm of stock analysis, Jefferies raised its price target for Ashland shares to $71, maintaining a Buy rating, citing potential earnings growth from operational leverage and innovation. Conversely, JPMorgan maintained its Overweight rating and a $67 price target, noting a conservative outlook due to softer business activity trends. Despite these challenges, Ashland continues to focus on strategic investments in various regions, including new facilities in India and Brazil. These developments come amid broader efforts to enhance profitability and global competitiveness.

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