Eastman Chemical Company Appoints Damon Audia as New Board Member

Eastman Chemical Company has appointed Damon Audia as a new director. Audia is the Senior Vice President and Chief Financial Officer of AGCO Corporation, an $11.7 billion global leader in agricultural machinery and precision ag technology. Prior to this, he held key financial leadership roles at Kennametal Inc., Carpenter Technology Corporation, and The Goodyear Tire & Rubber Company. Audia holds an MBA from Carnegie Mellon University and a bachelor's degree in general studies from the University of Michigan.

Eastman Chemical Company (NYSE:EMN) has appointed Damon Audia as a new director to its Board of Directors. Audia currently serves as the Senior Vice President and Chief Financial Officer (CFO) of AGCO Corporation (NYSE:AGCO), a global leader in agricultural machinery and precision ag technology with revenues of $11.7 billion. Prior to his role at AGCO, Audia held key financial leadership positions at Kennametal Inc., Carpenter Technology Corporation, and The Goodyear Tire & Rubber Company. He holds an MBA from Carnegie Mellon University and a bachelor’s degree in general studies from the University of Michigan.

The appointment of Damon Audia to Eastman’s Board of Directors underscores the company’s commitment to strategic leadership and financial acumen. Mark Costa, Board Chair and CEO of Eastman, commented, “Damon’s leadership and deep understanding of business strategy and experience across diverse industries, including automotive and agriculture, will contribute significantly to our mission” [1].

Eastman Chemical, founded in 1920, is a global specialty materials company headquartered in Kingsport, Tennessee. The company employs approximately 14,000 people globally and serves customers in more than 100 countries. In 2024, Eastman reported revenues of approximately $9.4 billion. The company produces materials used in everyday consumer products and operates in markets including transportation, building and construction, and consumables [2].

Despite recent challenges, including a slight earnings per share (EPS) beat but a miss on revenue forecasts in Q1 2025, Eastman continues to focus on innovation in recycling and specialty plastics. The company has also reduced its capital expenditure from $750 million to $550 million, aiming to optimize efficiency amid economic uncertainties [2].

Audia’s appointment comes at a critical juncture for Eastman, as the company navigates through economic uncertainties and tariff-related impacts. Eastman anticipates a $30 million tariff-related impact in the second quarter and has provided a Q2 EPS guidance range of $1.70 to $1.90 [2].

References:
[1] https://seekingalpha.com/news/4463260-eastman-board-appoints-new-director
[2] https://www.investing.com/news/company-news/eastman-chemical-appoints-agco-cfo-damon-audia-to-board-93CH-4114582