Exhibit 99.1
NEWS RELEASE
FOR IMMEDIATE RELEASE
Avient
Appoints Ashish K. Khandpur as Chief Executive Officer
Effective December 1, 2023
Robert M. Patterson to Remain in an Advisory Role Until His Retirement on May 31, 2024
Richard H. Fearon Appointed Non-Executive Chairman of the Board
CLEVELAND November 13, 2023 Avient Corporation (NYSE: AVNT), a leading provider of specialized and sustainable material solutions, today
announced that its Board of Directors has unanimously voted to elect Dr. Ashish K. Khandpur as President and Chief Executive Officer, effective December 1, 2023. In connection with this appointment, the Board has elected Richard H.
Fearon, Lead Independent Director, as Non-Executive Chairman of the Board, also effective December 1, 2023.
Robert M. Patterson will retire from his roles as President and CEO and resign from the Board. He will remain with the Company through May 31, 2024 in an
advisory capacity to help facilitate the leadership transition.
Dr. Khandpur joins Avient after nearly three decades at 3M, where he began in
R&D and technology roles, ultimately ascending to Chief Technology Officer. He has since led several different 3M businesses, most recently serving as Group President of 3Ms Transportation and Electronics Business. This business applies
materials science expertise to commercialize products and solutions for a variety of market segments, including automotive, automotive electrification, semiconductors, LCD and OLED displays, consumer electronics, data centers, 5G networks, and
transportation safety and generated approximately $8.9B in revenue in 2022.
Ashish is one of the worlds leading experts in polymers and
materials, having earned undergraduate and doctorate degrees in chemical engineering at two of the worlds leading chemical engineering universities, and then used that knowledge over several decades to help pioneer a host of new products for
3M, said Mr. Fearon. In addition, as a business leader at 3M he has demonstrated great success in using that expertise to drive sales and profit growth. His passion for leading, innovating, and delivering success is readily apparent
and will serve as an excellent fit with Avients culture.