Celanese Corporation EPS zooms 44.3% in Q1 2013

 

-Elected Edward G. Galante to the company's board of directors. Galante is a former senior vice president, Exxon Mobil Corporation.

Celanese Corporation, a global technology and specialty materials company, reported first quarter 2013 adjusted earnings per share of $1.14 versus #

 

-Changed the company's accounting policy for its defined benefit pension plans and other postretirement benefit plans (collectively, "Plans"). Under the new accounting policy, referred to as mark-to-market accounting, the company will recognize actuarial gains and losses and changes in the fair value of the Plans' assets in operating results in the fourth quarter of each year rather than deferring and amortizing them into future years. This change was effective January 1, 2013 and all amounts reported here reflect this new basis of accounting.