Avient Chairman, CEO Ashish Khandpur Resigns; Michael Frank Takes Helm

Dow Jones

Yesterday

Avient's top executive, Ashish Khandpur, is leaving the material solutions provider.

Avient on Friday said Khandpur has stepped down as chairman, president and chief executive of the Avon Lake, Ohio, company, which has hired Michael Frank as its news president and CEO.

Frank, 62 years old, most recently served as CEO of agricultural chemical company UPL.

Avient said Frank will receive base annual salary of $1.22 million, a $1.6 million sign-on bonus and an annual bonus with a target of 120% of his base pay.

Avient said Khandpur, who had been president and CEO since 2023 and chairman since 2025, will stay on in an advisory capacity through the end of the year to assist with the transition.

The company said Richard Fearon, a board member since 2004 who had been lead independent director, will now serve as non-executive chairman.

Avient also reaffirmed the third-quarter and full-year financial guidance it had provided in early August.

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