Elevance Renewable Sciences announced that Karl Schoene will succeed Tony Parnell as Elevance’s CEO. Parnell will transition to Executive Chairman of the board of directors. Both executive appointments are effective as of May 1, 2017. Schoene has served as President and Chief Technology Officer of Elevance since August 2016.

"Karl is the right person to take Elevance to even greater success,” sais Parnell. "He’s a proven leader with a history of producing strong results and developing effective teams along the way. As a former CEO for two other high-growth companies and with more than 25 years in the specialty chemical industry and related fields, he’s the right CEO for Elevance at this time in our development.”

The announcement is guided by a management succession and transition plan established by the Elevance board of directors in 2016.