Eastman Announces Retirement of Senior Vice President Damon Warmack

Lucian Boldea to lead Chemical Intermediates

KINGSPORT, Tenn., Dec. 18, 2018 – Eastman Chemical Company (NYSE:EMN) today announced that, after more than 38 years of service, Damon C. Warmack, senior vice president, Corporate Development and Chemical Intermediates, will retire mid-year in 2019.

“On behalf of the Executive Team, I want to thank Damon for his significant contributions to Eastman for nearly four decades,” said Eastman Board Chair and Chief Executive Officer Mark J. Costa. “He has had an extraordinary career. I am personally very grateful for his pragmatic leadership of Chemical Intermediates, as well as his vital role in the portfolio transformation that has been foundational to executing our strategy to become a leading specialty materials company. Damon’s vast experience, exemplary leadership, strategic thinking and unique perspectives have made him a valuable member of our Executive Team. All of us at Eastman wish him a long and happy retirement.”

Effective January 1, 2019, Dr. Lucian Boldea, currently Senior Vice President, Additives & Functional Products, will become an Executive Vice President and assume leadership of Chemical Intermediates in addition to his current responsibilities. Mr. Warmack will continue to serve on the Executive Team as Senior Vice President, Corporate Development during the transition of leadership of the Chemical Intermediates business and until his retirement.

“We are fortunate to have Lucian as a proven and experienced leader ready to assume these additional leadership responsibilities,” added Costa. “Given Damon’s and Lucian’s close working relationship, I am confident that this will be a smooth transition and look forward to the results of closer alignment of Additives & Functional Products and Chemical Intermediates.”

Eastman is a global advanced materials and specialty additives company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in more than 100 countries and had 2017 revenues of approximately $9.5 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world. For more information, visit www.eastman.com.


Media: Tracy Kilgore Addington 423-224-0498 / tracy@eastman.com

Investors: Greg Riddle 212-835-1620 / griddle@eastman.com


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