Business Context and Reporting Period
This Form 8-K was filed by PolyOne Corporation (now Avient Corp) on March 9, 2016, reporting a significant change in corporate leadership. The filing addresses the departure of the Executive Chairman and the appointment of a new Chairman of the Board.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on governance changes and does not contain financial performance data.
Material Changes
- Executive Chairman Departure: Stephen D. Newlin notified the Board on March 9, 2016, of his intent to retire as Executive Chairman effective May 12, 2016, at the Annual Meeting of Shareholders. He will not stand for re-election as a director.
- Chairman Appointment: On March 10, 2016, the Board appointed Robert M. Patterson as Chairman of the Board, effective upon Mr. Newlin's retirement.
- Continuity of Leadership: Robert M. Patterson will continue to serve as President and Chief Executive Officer. Richard H. Fearon will continue to serve as Lead Director.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The document is limited to the announcement of personnel changes.
Key Facts for Investor Verification
- Confirm the exact date of Stephen D. Newlin's retirement (May 12, 2016).
- Verify Robert M. Patterson's dual role as Chairman and CEO post-transition.
- Check subsequent filings for any compensatory agreements related to Mr. Newlin's departure.
- Review the Annual Meeting proxy statement for details on the Board composition changes.