WILMINGTON, Del. - Ashland Inc . (NYSE: NYSE:ASH), a global additives and specialty ingredients company, has announced the appointment of Ashish K. Kulkarni to its Board of Directors, effective last Monday.
Kulkarni, the CEO of Kebotix, brings a wealth of experience from his previous tenures as an executive vice president and chief innovation officer at GAF, as well as chief technology and innovation officer roles at Avantor (NYSE:AVTR) and Celanese (NYSE:CE) Corporation.
Kulkarni's history of leadership positions includes time spent at United Technologies Corporation (NYSE:RTX), American Standard, and General Electric (NYSE:GE). His addition to the Board comes as Ashland prepares for potential director retirements, expanding the Board to 11 members.
Guillermo Novo, chair and chief executive officer of Ashland, expressed confidence in Kulkarni's ability to contribute to the company's growth strategy, highlighting his track record of fostering innovation and driving profitable growth across various industries.
Ashland serves a broad spectrum of markets, ranging from architectural coatings to pharmaceuticals, and emphasizes a commitment to environmental, social, and governance (ESG) principles. The company operates globally, with a team dedicated to creating solutions for complex challenges faced by customers in over 100 countries.
This expansion of the Board is part of Ashland's ongoing efforts to adapt and grow its portfolio. The information is based on a press release statement.
InvestingPro Insights
As Ashland Inc. (NYSE: ASH) welcomes Ashish K. Kulkarni to its Board of Directors, the company's financial health and market performance remain pivotal for investors. With a market capitalization of $4.89 billion, Ashland showcases a Price to Earnings (P/E) ratio of 25.82. The company's commitment to shareholder returns is evident, with a notable dividend yield of 1.57% and a 14.93% growth in dividends over the last twelve months as of Q2 2024.
An InvestingPro Tip highlights that Ashland has been proactive in share buybacks, indicating management's confidence in the company's value. Furthermore, the company's solid track record of raising its dividend for five consecutive years and maintaining dividend payments for an impressive 54 years aligns with its reputation for providing shareholder yield.
Looking at performance, Ashland's stock is trading near its 52-week high, with 98.27% of this peak value, reflecting a large price uptick over the last six months. Investors should note that Ashland's liquid assets exceed its short-term obligations, underlining the company's financial stability.
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