Huntsman highlights recent strategic actions to enhance shareholder value

The woodlands, texas, jan. 12, 2022 /prnewswire/ -- huntsman corporation (nyse: hun) issued the following statement in response to the letter and nomination notice the company received from starboard value lp today: at huntsman's investor day in november, we announced financial targets building on the strongest profit and margin performance the company has ever achieved with its current portfolio of businesses. the huntsman board of directors actively oversaw that performance and it continues to oversee the company's announced comprehensive initiatives, all of which enhance accountability and alignment with our shareholders, including: initiating a strategic review process for the textile effects division to continue advancing our focus on portfolio enhancement; authorizing new share repurchases of $1 billion over the next three years, building on the $682 million of share repurchases huntsman has completed since 2018; implementing a multi-year incentive compensation program for all huntsman officers and vice presidents that ties the vast majority of their incentive compensation to the achievement of the investor day targets, thereby promoting transparency, ensuring objective accountability and fostering execution; and substantially completing the board refreshment process that began in 2018 by adding david b.
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