15:21 PM | October 8, 2019 | Vincent Valk
Ashland today named Guillermo Novo, the former CEO of Versum Materials, as chairman and CEO of the company, effective 31 December . Novo, who joined Ashland’s board in May, will replace William Wulfsohn, who is retiring.
Novo was president and CEO of Versum from 2016 to 2019, when the company was sold to Merck KGaA in a deal that closed yesterday. Prior to that, he was executive v.p./performance materials at Air Products from 2012 to 2016, and served in a variety of roles with Dow Chemical and Rohm and Haas from 1988 to 2012.
Jay Ihlenfeld, Ashland’s lead independent director, called Novo “a seasoned executive.” Wulfsohn, who has been CEO of Ashland since 2014, will assist with the transition between now and the end of the year.
Ashland’s board will consist of ten members after Wulfsohn’s departure at the end of December.