Ashland announces appointment of two new directors as part of Cooperation Agreement with stockholder Ancora

WILMINGTON, Del., July 28, 2026 (GLOBE NEWSWIRE) -- Ashland Inc. (NYSE: ASH), a global leader in additives and specialty ingredients, today announced the appointments of two new independent members of the Company Board of Directors and the formation of a Capital Allocation Advisory Committee as part of entry into a cooperation agreement with Ancora Holdings Group, LLC, a meaningful stockholder.

Effective immediately, the Board will appoint Peter Thomas and Allen Spizzo as independent members. Thomas is the former chair, chief executive officer and president of Ferro Corporation (formerly NYSE: FOE). Spizzo is the former vice president and chief financial officer of Hercules Incorporated and its affiliated entities. Thomas and Spizzo will next stand for election at the Ashland 2027 Annual Meeting of Stockholders. In connection with the appointments of Thomas and Spizzo, the Board will temporarily expand to 11 members before reducing it to 10 members at the 2027 Annual Meeting.