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Ascend Performance Materials Appoints Patrick Schumacher as Chief Executive Officer

Ascend Performance Materials named Patrick Schumacher CEO in a release distributed via PR Newswire, as the company completes its financial restructuring, effective Dec. 10, 2025.
Facing a Chapter 11 restructuring, the board of Ascend appointed Patrick Schumacher to lead completion of the financial restructuring, citing his more than 25 years of industry experience.
His resume includes leadership at Olin Corporation and senior positions at Celanese Corporation, The Blackstone Group, UBS, and Lehman Brothers, with over 25 years of industry experience.
Phil McDivitt will stay on as special advisor to the Board and CEO, having led Ascend Performance Materials’ global manufacturing footprint expansion to ensure smooth transition during restructuring.
With new leadership, the company plans to prioritize operational stability and long-term value creation, emphasizing safety and sustainability commitments across its global workforce and manufacturing operations.

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