Elevance announces Tony Parnell as new CEO

K’Lynne Johnson assumes new role as Executive Chairperson, Elevance Board of Directors

Woodridge, Illinois, USA (Oct. 23, 2015) – Elevance Renewable Sciences, Inc., a high-growth company that creates novel specialty chemicals from natural oils, today announced that its Board of Directors has appointed Tony Parnell as the company’s Chief Executive Officer. Parnell succeeds K’Lynne Johnson, who has transitioned to a new role as Executive Chairperson of Elevance’s Board of Directors. Both executive appointments are effective today, Oct. 23, 2015.

“I’m honored to be selected as Elevance’s next CEO and eager to lead Elevance as the company focuses on accelerating revenue growth,” Parnell said. “Now is the ideal time to build upon the company’s many notable accomplishments, resulting from K’Lynne’s sound direction and leadership, including multiple commercial product introductions, joint ventures and collaborations.”

As CEO, Parnell’s initial priorities will be to enhance commercialization of Elevance products that have already been introduced and take full advantage of the strategic portfolio that Johnson has established, for faster speed-to-market that is consistent with the company’s vision.

Johnson will remain on the board and assume the new role of Executive Chairperson. In this position, she will support Parnell’s efforts, ensuring continuity of vision, strategy and relationships, and assisting with corporate visibility.

“Tony brings more than 30 years’ experience leading specialty chemical operations, especially in sales and supply chain execution,” Johnson said. “His background gives Elevance proven industry expertise in efficient and effective business practices necessary for revenue growth and profitability. We are pleased to welcome him to the company.”

Parnell previously served as a corporate officer of Albermarle Corporation, a premier specialty chemicals company headquartered in Baton Rouge, Louisiana. He was most recently corporate vice president, global sales and supply chain, where he oversaw all aspects of Albemarle’s global supply chain, including sales, procurement and logistics, as well as the company’s global office sites. During his tenure at Albemarle, Parnell held several positions of increasing responsibility, including managing director, European and Middle East operations. Parnell held a six-year assignment in Albemarle’s Brussels office where he led all aspects of the region, including manufacturing, research and development, and sales.

Additionally, Parnell was responsible for creating the company’s global sales and strategic account management organizations from Albemarle’s Baton Rouge, Louisiana, headquarters. As corporate vice president, polymer solutions, he was responsible for the company’s approximately $1 billion polymer additive operations. During his management, this global business unit posted record profits.

Parnell graduated from Mississippi State University with a Bachelor of Science in chemical engineering. He has recently served as a board representative on the Baton Rouge Arts Council and is currently a board member of Cancer Services of Greater Baton Rouge.

K’Lynne Johnson is the founding CEO, leading Elevance since its formation in 2007. Under Johnson’s leadership, Elevance boasts many achievements, including the Elevance-Wilmar International Limited joint venture that has built and is supplying Elevance customers with products from a world-scale, 180,000 MT biorefinery in Gresik, Indonesia; a biorefinery collaboration with Genting Plantations Berhad; a partnership with Versalis; and the commercialization of multiple products globally. She also helped establish collaborations with additional chemical industry leaders, including Stepan Company and Arkema; and was instrumental in helping the company earn several honors, including being named an EPA Presidential Green Challenge Award winner, a Bloomberg/New Energy Pioneer Award winner and one of Crain’s Chicago Business’ Top 25 Most Innovative Companies; among other company milestones.

About Elevance Renewable Sciences, Inc.

Headquartered in Woodridge, Illinois, USA, Elevance Renewable Sciences, Inc. is a high-growth company that creates novel specialty chemicals that perform better from renewable feedstocks, making the products that industry and consumers use every day better. Using a proprietary technology called olefin metathesis, the company delivers specialty chemicals that exceed the performance of existing products while leaving a smaller environmental footprint — for use in personal care products, detergents and cleaners, engineered polymers, lubricants and additives, and other specialty chemicals markets. To learn more, visit www.elevance.com or www.renewicals.com