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NORTH CHARLESTON, S.C. - Ingevity Corporation (NYSE:NGVT), a specialty chemicals manufacturer with a market capitalization of $2.04 billion and an impressive 72% stock return over the past year, announced that Ruth Castillo will join the company as president of Performance Materials and senior vice president, effective November 10, 2025.
Castillo, who most recently served as vice president of global chemicals at Avantor, brings more than 25 years of experience in the chemicals and materials industries. She previously held leadership positions at Celanese, where she launched new products and led strategic initiatives.
In her new role, Castillo will lead Ingevity’s activated carbon segment, focusing on reinforcing the company’s position in evaporative emissions control and expanding into new applications across the product portfolio.
"Ruth is a strategic and innovation-focused leader with a deep understanding of how to navigate complex businesses and unlock new growth opportunities," said Dave Li, Ingevity’s president and CEO, in a press release statement.
Castillo holds an MBA in International Management from the University of Texas at Dallas and a bachelor’s degree in chemical engineering from Universidad Iberoamericana in Mexico City.
Ingevity’s Performance Materials segment specializes in activated carbon products. The company operates in three reporting segments, including Advanced Polymer Technologies and Performance Chemicals, with 24 locations worldwide and approximately 1,600 employees.
The North Charleston-based company manufactures products used in various applications, including adhesives, agrochemicals, asphalt paving, bioplastics, coatings, elastomers, and automotive components.
In other recent news, Ingevity Corporation reported its second-quarter earnings for 2025, with earnings per share (EPS) coming in at $1.39, significantly surpassing the forecasted $1.16. Despite this EPS beat, the company’s revenue fell short of expectations, totaling $365 million compared to the anticipated $378.7 million. Ingevity has also announced an agreement to sell its North Charleston crude tall oil (CTO) refinery assets and most of its Performance Chemicals Industrial Specialties product line to Mainstream Pine Products, LLC for approximately $110 million in cash. This transaction, expected to close by early 2026, could include additional contingent payments of up to $19 million. BMO Capital has raised its price target on Ingevity to $68 from $62, maintaining an Outperform rating, following the announcement of this sale. Previously, BMO Capital had increased the price target to $62 from $56, citing an inflection point in Ingevity’s earnings and free cash flow as a reason for significant upside potential. These developments highlight a period of strategic transitions and financial adjustments for the company.
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