Elevance Renewable Sciences, a US company that produces specialty chemicals from natural oils, has appointed Tony Parnell as its new CEO. He succeeds K’Lynne Johnson, who has been named executive chair of the board of directors and was the founding CEO of Elevance, serving since its formation in 2007.

The new chief executive comes from Albemarle, where he was most recently corporate vice president for global sales and supply chain, overseeing all aspects of the global supply chain, including sales, procurement and logistics as well as the company’s global office sites. As corporate vice president, polymer solutions, Parnell was responsible for the company’s approximately $1 billion polymer additive operations.

As CEO of Elevance, Parnell’s initial priorities will be to enhance commercialization of Elevance products already on the market and bring new products to market faster.