Huntsman Appoints Curtis E. Espeland and José Muoz to Board of Directors

Huntsman announced that it has appointed Curtis E.
Espeland and José Muoz to its Board of Directors
.
In addition, the company announced that it has appointed Cynthia L.
Egan as its new Lead Independent Director, Non-Executive Vice Chairman of the Board and Chair of the Nominating and Corporate Governance Committee, and added Sonia Dulá to the Compensation Committee, who will be added to the Compensation Committee when Wayne A.
Reaud leaves the Board.
become the chairman
.
All of these appointments are effective January 1, 2022
.

“As part of our ongoing board renewal process, I am delighted that we have identified two outstanding independent directors, Curt and José, both of whom have extensive experience running companies relevant to our industry and executing strategic growth plans,” said Peter R.
Huntsman, Chairman, President and Chief Executive Officer
.

"With these additions, I believe our board and company will be well-positioned to ensure management achieves the growth strategy and financial goals we outlined at our November Investor Day to unlock value for our shareholders
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We will continue to work with shareholders and Thank you for the substantial input we have received to date as our firm continues to grow our portfolio and execute on our strategy
.
"

Huntsman also announced that, consistent with the company's director retirement policy, three current directors, Nolan D.
Archibald (outgoing lead independent director, vice chairman of the board and chairman of the Nominating and Corporate Governance Committee) ), former chairman M.
Anthony Burns of the Audit Committee previously announced his impending retirement at the Investor Day, and Sir Robert J.
Margetts will transition from the Board as planned at the 2022 Annual Meeting of Shareholders
.
Wayne Reaud, chair of the Litigation, Public Policy and Compensation Committees, will support the transition of these committees' oversight responsibilities until he steps down from the board at the 2023 annual meeting of shareholders, or before, when he will reach retirement age
.

The changes announced today reflect the latest steps in the Board's multi-year director succession plan, including the recruitment of directors with skills consistent with Huntsman's upgraded and streamlined portfolio
.
These appointments ensure that the Board continues to have the right mix of experience, expertise and diversity to drive profitable growth for shareholders and best oversee the company's strategic plans
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These include the recently announced review of strategic options for its textile dyeing and chemical division, as well as a multi-year incentive compensation plan in line with the financial targets set out at the Investor Day
.

The changes follow the addition of three independent directors over the past 18 months, including Jeanne McGovern, who joined the board in February 2021 and was appointed chair of the audit committee, effective January 1, 2022
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As a result, seven independent directors have been appointed since 2018
.

The company also announced that it will hold its 2022 General Meeting of Shareholders on March 25, 2022
.
According to an announcement made today and based on ongoing dialogue with shareholders, the Huntsman Board of Directors has determined that it is in the best interests of Huntsman shareholders to convene the company's 2022 General Meeting as soon as possible, as it minimizes potential disruption and disruption, And enable management to focus on executing its ambitious strategic and operational goals, including target allocations outlined in the company's investor day and the recently announced strategic review of textile dyeing
.