Celanese Board of Directors Appoints David Weidman as Chairman of the Board
The board of directors of Celanese Corporation announced that it has appointed David N.Weidman, president and chief executive officer of Celanese Corporation, as chairman of the board replacing Chinh E. Chu. Chu resigned as chairman but will remain on the board of directors. Weidman will continue his role as the company's president and chief executive officer. These changes became effective at a meeting of the board of directors held on February 8.
Weidman has been president and chief executive officer and a member of the board of directors since December 2004. Until October 2004, Weidman was a member of the board of management of Celanese AG and served as its vice chairman since September 2003 and as its chief operating officer since January 2002. He joined Celanese AG in September 2000 as chief executive officer of Celanese Chemicals.
As a result of its reduced ownership position, The Blackstone Group will reduce its representation on the Celanese board of directors. Benjamin J. Jenkins, senior managing director, The Blackstone Group, will resign his Celanese board position effective April 26, 2007, the date of the company's annual meeting of shareholders, reducing the number of directors on the board from 11 to 10.
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