Shares of Avient were down after the material solutions provider said Ashish Khandpur had stepped down as chief executive officer.
The stock was off by 9.3% to $37.18 in Friday morning trading. The shares have risen 19% this year.
Michael Frank, previously the CEO of agricultural chemical company UPL, was appointed as Khandpur's successor, the company said.
Khandpur had served as president and CEO since 2023 and chairman since 2025. He will stay on as an advisor to support the transition, the company said.
Board member Richard Fearon was named non-executive chairman of the company.
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