Eastman Chemical Co. Chairman and CEO Mark Costa will receive a major chemical industry award later this year.
The Société de Chimie Industrielle will award the 2022 International Palladium Medal to Costa for his contributions to the chemical industry and his leadership in enhancing the aims and objectives of the organization. He'll receive the award at a dinner in his honor on Sept. 12 at the New York Hilton Midtown.
The International Palladium Medal was established in 1958 and was first presented to Ernest-John Solvay of Belgium in 1961. Later awards have been made to American, French, British and German recipients biennially. Peter Young and James Weatherall, co-chairmen of the award event, said in a news release that Costa "has dedicated his career at Eastman to harnessing the power of innovation and science to solve the world's biggest challenges, most notably in the circular economy."
They added that Costa "has applied his exceptional leadership skills to guiding his company through a period of incredible growth while consistently forging constructive relationships with multiple stakeholders and being fully dedicated to the success of the chemical industry and the people around him."
Officials with Eastman in Kingsport, Tenn., added in the release that Costa has led the firm through a major transformation to becoming a leading material innovation company, beginning with a significant change in portfolio by divesting commodity businesses and acquiring and integrating several specialty companies.
They added that as a champion of sustainable innovations, Costa has overseen the launch of Eastman's molecular recycling technologies aimed at helping to solve the global waste crisis and meaningfully address climate change.
Costa joined Eastman in 2006 and was named the firm's CEO in 2014. He serves on the Executive Committee for the American Chemistry Council and also is an active member of the Society for Chemical Industries (SCI), The Business Roundtable and The Business Council.
The Société de Chimie, founded in 1918 in New York, is committed to inspiring interest and knowledge sharing in the chemical and life science industries through scholarships, mentorships, networking, advanced learning and the recognition of distinguished leaders.
Eastman is a supplier of specialty materials, including Tritan-brand copolyester. The firm employs 14,000 worldwide and posted sales of $10.5 billion in 2021.