William A. Wulfsohn has been named as new chairman and chief executive officer of US chemical producer Ashland, effective Jan. 1, 2015. The 52-year old will succeed James J. O'Brien, who will retire at the end of December 2014 after 12 years in the company's top slot.

Wulfsohn, who in the past has worked for chemical companies such as Honeywell and PPG, moves to Ashland from Carpenter Technology Corp, where he has served as president and CEO since 2010 and was on the company's board from 2009. Carpenter is active in the development, manufacture and distribution of cast/wrought and powder metal stainless steels and specialty alloys.