UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
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(423 ) 229-2000
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Emerging growth company ☐
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In January 2025, Steve Crawford agreed to transition from Executive Vice President, Manufacturing and Chief Sustainability Officer to Executive Vice President, Methanolysis Operations and Worldwide Engineering and Construction Transformation, to leverage his leadership and experience, and ensure the successful startup of the Kingsport Methanolysis facility. With that work now successfully completed, on May 1, 2025, the Company decided to eliminate that position, effective June 2, 2025 (the “Effective Date”). This decision was part of the Company’s ongoing succession planning process, in which Mr. Crawford has been involved. Following the Effective Date, Mr. Crawford’s operational responsibilities will be transitioned to other Eastman executives.
“Eastman has been fortunate to have many outstanding leaders throughout our history, but few have had as significant an impact as Steve,” said Board Chair and CEO Mark Costa. “His talents have left an indelible mark on organizations across the company.”
The Company determined that the elimination of this position constitutes a separation meriting receipt of severance consistent with the Company’s customary severance practice for all employees and accordingly agreed to provide Mr. Crawford with 52 weeks’ base salary as severance for his 41 years of service and up to four months of continued healthcare coverage paid by the Company.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Eastman Chemical Company | ||||||||
| By: | /s/ Iké G. Adeyemi | |||||||
| Iké G. Adeyemi | ||||||||
| Senior Vice President, Chief Legal Officer and | ||||||||
| Corporate Secretary | ||||||||
| Date: May 6, 2025 | ||||||||