EASTMAN CHEMICAL Business Summary

Eastman Chemical Company (EMN) is a global specialty materials firm that generates revenue through the manufacture and sale of advanced chemicals, plastics, and fibers. The company operates through four primary business segments: Additives & Functional Products, which serves the coatings, tires, and animal nutrition markets; Advanced Materials, focused on specialty plastics and performance films; Chemical Intermediates, providing large-scale building blocks for industrial applications; and Fibers, which produces acetate tow for the global tobacco and textile industries. Eastman has strategically pivoted toward a circular economy business model, leveraging its proprietary molecular recycling technologies to convert plastic waste into high-performance materials. Its primary direct competitors include Dow Inc., DuPont de Nemours, Celanese Corporation, and Avient Corporation. Within this landscape, Eastman distinguishes itself as a high-margin specialty player, prioritizing sustainable material innovation and application development over commodity chemical production. Originally founded in 1920 by George Eastman to secure a chemical supply for Eastman Kodak, the company is currently led by Board Chair and CEO Mark J. Costa, who joined in 2006 and has served as CEO since 2014. Costa, a former senior partner at Monitor Deloitte, has been the primary architect of the company's transformation into a specialty materials leader. The executive team includes William T. McLain, Jr. as Executive VP and CFO, and Stephen G. Crawford, who returned to the role of Executive VP, Chief Technology and Sustainability Officer on January 1, 2026. Other key leaders include Brad A. Lich, Executive VP and Chief Commercial Officer, and Iké Adeyemi, Senior VP and Chief Legal Officer. The Board of Directors features prominent industry veterans such as Lead Independent Director Brett Begemann (former COO of Monsanto) and directors from organizations like Honeywell, The Walt Disney Company, and Kraft Heinz, reflecting a high degree of institutional oversight and strategic depth.