Ashland appoints William Whitaker as senior VP and CFO

WILMINGTON, Del. - Ashland Inc. (NYSE:ASH) has appointed William C. Whitaker as senior vice president and chief financial officer, effective July 18, 2025, according to a company press release. The appointment comes at a crucial time as the company, currently trading at $51.16, is positioned for a potential turnaround according to InvestingPro analysis.

Whitaker, who had been serving as interim CFO, joined Ashland in 2015 and has held several positions with increasing responsibility in corporate development, treasury, financial planning and analysis, and investor relations.

Prior to joining Ashland, Whitaker worked in private equity and transaction advisory services. He holds a Bachelor’s degree in Finance from Ohio State University and is a Chartered Financial Analyst (CFA).

"I want to congratulate William on this well-deserved appointment," said Guillermo Novo, chair and chief executive officer of Ashland. "I am confident in his leadership and ability to thrive in this role while helping Ashland achieve new heights."

Ashland, a global additives and specialty ingredients company with $1.9 billion in revenue, serves customers across various sectors including architectural coatings, construction, energy, food and beverage, personal care, and pharmaceutical industries. The company employs approximately 2,960 people and operates in more than 100 countries. Notable strengths include a 55-year track record of consistent dividend payments and management’s active share buyback program. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Ashland Inc. announced a leadership change with the retirement of Karl Bostaph, its senior vice president of operations, effective October 1, 2025. Wayne Muil, who joined Ashland in 2024, has been appointed to the role and will oversee the company’s global production facilities. Additionally, Ashland is closing two manufacturing facilities in New Jersey as part of a $60 million optimization plan, transferring production to larger sites in Virginia and Massachusetts to improve cost competitiveness.

JPMorgan has maintained its Overweight rating on Ashland, setting a price target of $67, though it notes that third-quarter earnings estimates may be optimistic. The investment bank projects Ashland’s EBITDA at $112 million for the quarter, below the consensus of $117.5 million. Meanwhile, Jefferies raised its price target for Ashland to $71, maintaining a Buy rating, citing potential earnings growth from operational leverage and innovation in the coatings and personal care markets. This strategy is expected to enhance Ashland’s market valuation over time.

In related news, Valvoline Inc., previously a segment of Ashland, has appointed Kevin Willis as its new CFO, effective May 19, 2025. Willis, who has a history with Ashland, is expected to contribute to Valvoline’s strategic goals with his expertise in financial operations and capital markets management.

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