Ashland names William Whitaker as senior VP and CFO

WILMINGTON, Del. - Ashland Inc. (NYSE:ASH) announced Monday that its board of directors has appointed William C. Whitaker as senior vice president and chief financial officer, effective July 18, 2025. The appointment comes at a crucial time as the company, currently trading at $51.16, faces near-term challenges with analysts recently revising earnings expectations downward.

Whitaker, who had been serving as the company’s interim chief financial officer, joined Ashland in 2015 and has held positions of 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, according to the company’s press release. "I am confident in his leadership and ability to thrive in this role while helping Ashland achieve new heights."

Ashland describes itself as a global additives and specialty ingredients company serving customers in various markets including architectural coatings, construction, energy, food and beverage, personal care, and pharmaceutical. The company employs approximately 2,960 people and operates in more than 100 countries. According to InvestingPro analysis, Ashland currently appears undervalued, with additional insights and detailed financial metrics available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.

In other recent news, Ashland Inc. announced a significant operational change with the appointment of William C. Whitaker as the new senior vice president and chief financial officer. Whitaker, who had been serving as interim CFO, brings extensive experience in corporate development and financial planning. Additionally, Ashland is undergoing a $60 million manufacturing optimization plan, which includes closing two New Jersey plants and transferring production to larger facilities in Virginia and Massachusetts. This move aims to improve cost competitiveness and operational efficiency.

Ashland also announced a leadership transition in its operations department as Karl Bostaph plans to retire, with Wayne Muil stepping in as the new senior vice president of operations. Meanwhile, JPMorgan maintained an Overweight rating for Ashland, with a price target of $67, noting that consensus earnings estimates might be slightly optimistic. Jefferies, on the other hand, raised its price target for Ashland to $71, maintaining a Buy rating and highlighting the company’s potential earnings growth through operational leverage and innovation.

The company’s strategic focus on innovation is expected to enhance its earnings and market valuation over the long term, according to Jefferies. Ashland’s efforts to consolidate its manufacturing network and invest in various global facilities are part of its broader strategy to strengthen its competitive position in the market. Investors will be watching closely to see how these developments impact Ashland’s future performance, particularly in the coatings and personal care sectors.

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