Ascend Performance Materials Appoints Patrick Schumacher as Chief Executive Officer

Phil McDivitt to stay on as Special Advisor to the Board and CEO

HOUSTON, Dec. 10, 2025 /PRNewswire/ -- Ascend Performance Materials, a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, today announced that it has appointed Patrick Schumacher as Chief Executive Officer, effective today.

Patrick succeeds Phil McDivitt, who will remain with Ascend as a special advisor to the Board and CEO to ensure a smooth transition as the company completes its financial restructuring and emerges from the Chapter 11 process. McDivitt joined Ascend in 2015, served as president and CEO since 2017, and oversaw the expansion of the company's global manufacturing footprint.

"Over the past several years, we have built a strong foundation and made tremendous progress scaling our engineered plastics business and improving our safety record, culture, and customer relationships," said McDivitt. "As we work toward a successful financial restructuring, I am confident that now is the right time to transition leadership of Ascend. Patrick has a strong record of driving operational improvements, increasing profitability, and leading teams through transformation. His leadership will be instrumental as the company continues to execute on its growth strategy, build industry trust, and deliver long-term value."

"I am thrilled to lead what will become Ascend's resurgence," said Patrick Schumacher. "The people of Ascend have exhibited incredible resilience and determination and I'm honored to work alongside them to bring the company back to strong financial performance. Together, we will drive Ascend forward with a continued focus on operating safely and providing customers with the high-performance materials that help them lead their respective industries. I am grateful for Phil's many contributions to Ascend and his support throughout this transition."

About Patrick Schumacher

With more than 25 years of experience leading global businesses across the chemicals and industrial sectors, Schumacher has built a reputation for strategic transformation, streamlining complex organizations, and delivering higher profitability. Before joining Ascend, he was corporate vice president at Olin Corporation, where he led the Chlor Alkali Products & Vinyls division and the global integrated supply chain, achieving record financial results.

Prior to Olin, he held senior executive roles at Celanese Corporation, including Senior Vice President of Engineered Materials (CEM) and Acetate Tow, Vice President Emulsion Polymers, and Vice President Strategy and M&A. Earlier in his career, he led the chemicals M&A practice at The Blackstone Group and held senior investment banking roles at UBS and Lehman Brothers.

He holds a bachelor's degree in finance and international business from the University of Wisconsin and a master's degree in finance from Boston College's Carroll School of Management.

About Ascend Performance Materials

Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving the quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels, and Detroit, we are a fully integrated material solutions provider with global manufacturing facilities in North America, Europe, and Asia. Our global workforce makes the materials used to make safer vehicles, cleaner energy, better medical devices, smarter appliances, and longer-lasting apparel and consumer goods. We are committed to safety, sustainability, and the success of our customers and our communities.

Ascend Media:

Osama Khalifa
[email protected]

Rachel Chesley / Rose Temple
[email protected]

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SOURCE Ascend Performance Materials