Avient names Ashish K. Khandpur as chairman of the board

CLEVELAND - Avient Corporation (NYSE: AVNT), a leading material solutions provider with a market capitalization of $3.49 billion, has announced the promotion of Ashish K. Khandpur to Chairman of the Board, in addition to his current roles as President, CEO, and Director, starting today. According to InvestingPro analysis, the company maintains a "GOOD" financial health score, suggesting strong operational fundamentals.

The appointment marks a new chapter for Avient, with Dr. Khandpur taking over from Richard H. Fearon, who has chaired the board since December 2023 and will remain a board member. Fearon expressed confidence in Khandpur’s leadership, citing the positive outcomes of a new strategy aimed at fostering innovation and organic growth. The company’s strong financial position is reflected in its healthy current ratio of 2.05, indicating robust liquidity management.

Dr. Khandpur, expressing gratitude for the trust placed in him, underscored his commitment to advancing the company’s strategy and achieving growth with improved margins. With a career that began in 1995 at 3M, Dr. Khandpur has held various research and engineering roles, eventually serving as Chief Technology Officer and leading a global R&D team. Prior to joining Avient, he was the Group President of 3M’s Transportation and Electronics Business Group.

Avient, with a workforce of over 9,000 globally and annual revenue of $3.24 billion, focuses on customer success and sustainability through innovation in materials. The company’s extensive portfolio includes colorants, composites, additives, and engineered materials, alongside Dyneema®, the world’s strongest fiber™. Avient aims to deliver high-performance products that address the challenges and opportunities of a rapidly evolving world. For detailed analysis and comprehensive research reports on Avient and 1,400+ other US stocks, visit InvestingPro.

This leadership change is based on a press release statement from Avient Corporation.

In other recent news, Avient Corporation reported its financial results for the first quarter of 2025, meeting Wall Street expectations with an adjusted earnings per share (EPS) of $0.76. The company’s revenue, however, came in slightly below projections at $827 million, compared to the expected $830.8 million. Despite this minor revenue miss, Avient’s adjusted EBITDA grew by 4%, with margins expanding to 17.5%. The company experienced significant regional sales growth, with Asia and Latin America sales increasing by 9% and 17%, respectively. Notably, Avient launched new products in the healthcare and defense sectors, which are anticipated to contribute to future growth. The company also announced plans to pay down its debt by $100 million to $200 million this year. Avient’s CEO, Ashish Kanpur, highlighted the company’s strategic focus on cost control and productivity, including Lean Six Sigma initiatives and optimized manufacturing. The firm anticipates continued strength in its healthcare and packaging segments, with high single-digit growth expected in the defense sector.

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