Boardroom Alpha
Meeting calendar
CE · Annual meeting · Thursday, April 16, 2026

Celanese Corp

9 nominees · 3 ballot items.

Elect nine directors; Ratify KPMG LLP as independent registered public accounting firm for 2026; and hold an advisory (non-binding) vote to approve executive compensation (say-on-pay).

Market cap
$5.0B
1Y TSR
-17.7%
Board grade
C-
Record date
Feb 23, 2026
Filing
DEF 14A
Meeting concluded · Apr 16, 2026

Follow how the vote landed and what changed on Celanese Corp’s board — director track records, governance grades, and ongoing monitoring — on the Boardroom Alpha platform.

Proposals

On the ballot3

  1. 1

    Election of Directors

    ManagementBoard: FOR

    Elect nine director nominees (Bruce E. Chinn, Edward G. Galante, Kathryn M. Hill, Deborah J. Kissire, Michael Koenig, Christopher Kuehn, Ganesh Moorthy, Kim K.W. Rucker and Scott A. Richardson) to serve until the 2027 Annual Meeting.

  2. 2

    Ratification of Selection of Independent Registered Public Accounting Firm

    ManagementBoard: FOR

    Ratify the Audit Committee’s selection of KPMG LLP as Celanese’s independent registered public accounting firm for fiscal year ending December 31, 2026.

  3. 3

    Advisory Approval of Executive Compensation (Say-on-Pay

    ManagementBoard: FOR

    Advisory (non-binding) vote to approve the compensation of the Company’s named executive officers as disclosed in the proxy statement for the 2025 performance year.

    More detail

    This management proposal asks shareholders to cast a non-binding advisory vote to approve the Company’s executive compensation program for its named executive officers (NEOs) as disclosed in the proxy statement. Management is seeking shareholder approval to signal support for its pay-for-performance design, which for 2025 emphasizes operating EBITDA, an increased weighting on free cash flow (raised to 40% of the annual incentive), and stewardship metrics for annual incentive payouts, together with long-term equity incentives composed primarily of performance-based restricted stock units (PRSUs) tied to Adjusted EPS and Return on Capital Employed (ROCE) with a relative TSR modifier and stock options. The proposal is advisory and not binding on the Board, but Celanese frames it as an important governance feedback mechanism; the Board points to robust governance practices such as independent compensation committee oversight, use of an independent compensation consultant (Willis Towers Watson), rigorous clawback policies, stock ownership guidelines, and disclosure of LTIP performance measures to justify its recommendation. For 2025, the Company additionally increased the maximum PRSU payout to 240% in the event relative TSR is at or above the 90th percentile and rebalanced annual metrics to focus more on cash generation and deleveraging, reflecting company-specific priorities to strengthen free cash flow and reduce debt. Management argues that these features align executive incentives with both near-term cash generation and longer-term shareholder value creation while incorporating stewardship and risk mitigants to avoid excessive risk-taking. The Board recommends a FOR vote because it believes the compensation program appropriately ties pay to performance, supports retention and recruitment, and incorporates shareholder input and best practices. The CMDC’s design choices (metric selection, weighting changes, PRSU structure, and clawbacks) and the Board’s engagement with shareholders are central to management’s rationale, though shareholders should note the vote remains advisory and the Board retains discretion over compensation policies. In evaluating the proposal, sophisticated analysts should weigh the program’s alignment mechanisms (cash-weighting, PRSUs with TSR modifier, option grants), governance protections, and recent company performance (including adjusted EPS, free cash flow, and deleveraging efforts) against risks such as generous maximum payouts and the non-binding nature of the vote.

Director elections

Nominees on the ballot9

Independent
Tenure on this board
1.8 yrs
Also a director at
Waste Management Inc (WM)
Independent
Tenure on this board
13.2 yrs
Also a director at
Clean Harbors Inc (CLH)
Independent
Tenure on this board
5.8 yrs
Also a director at
Cable One Inc (CABO)Omnicom Group Inc (OMC)Axalta Coating Systems Ltd (AXTA)
Independent
Tenure on this board
2.8 yrs
Also a director at
Ralliant Corp (RAL)Sitime Corp (SITM)Globalfoundries Inc (GFS)
Independent
Tenure on this board
7.8 yrs
Also a director at
Marathon Petroleum Corp (MPC)Hp Inc (HPQ)Ge Vernova Inc (GEV)
Ownership

Top institutional holders10

Latest 13F quarter
1DODGE COX14.0%15,345,910$1.0B
2BlackRock, Inc.8.4%9,182,842$604M
3VANGUARD PORTFOLIO MANAGEMENT LLC5.7%6,271,682$412M
4VANGUARD CAPITAL MANAGEMENT LLC4.5%4,946,280$325M
5Capital Research Global Investors4.3%4,696,916$309M
6STATE STREET CORP3.6%3,960,681$260M
7FULLER THALER ASSET MANAGEMENT, INC.3.4%3,718,801$245M
8FEDERATED HERMES, INC.3.3%3,600,262$237M
9Capital World Investors2.8%3,050,791$201M
10BlackRock, Inc.2.6%2,898,491$191M
Filings

Recent key filings

Periodic reports
Definitive proxies
Reference

Frequently asked questions

When is the Celanese Corp 2026 annual meeting?
Celanese Corp (CE) holds its 2026 annual shareholder meeting on Thursday, April 16, 2026.
What is the record date for the Celanese Corp 2026 meeting?
The record date for the Celanese Corp 2026 meeting is Monday, February 23, 2026. Shareholders of record on or before that date are eligible to vote.
Who are the director nominees for Celanese Corp's 2026 meeting?
The board is presenting 9 director nominees at the Celanese Corp 2026 meeting, listed with their independence status and background.
What proposals will shareholders vote on at the Celanese Corp 2026 meeting?
Shareholders will vote on 3 proposals at the Celanese Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.
Disclaimer

The opinions and information contained herein have been obtained or derived from sources believed to be reliable, but Boardroom Alpha cannot guarantee its accuracy and completeness, and that of the opinions based thereon.

This report contains opinions and is provided for informational purposes only – it does not constitute investment, legal or tax advice. You should not rely solely upon the research herein for purposes of transacting securities or other investments, and you are encouraged to conduct your own research and due diligence, and to seek the advice of a qualified securities professional before you make any investment.

None of the information contained in this report constitutes, or is intended to constitute a recommendation by Boardroom Alpha of any particular security or trading strategy or a determination by Boardroom Alpha that any security or trading strategy is suitable for any specific person. To the extent any of the information contained herein may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person.

No representation or warranty, expressed or implied, is made on behalf of Boardroom Alpha as to the accuracy or completeness of the information contained herein. Boardroom Alpha does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this research and any liability is expressly disclaimed.

Full disclaimer