Cabot Corp CEO Retirement; Erica McLaughlin Named President & CEO

What Happened

• Cabot Corporation (CBT) announced that Sean D. Keohane notified the Board on July 24, 2026 that he will retire as President and Chief Executive Officer and resign as a Director and Executive Committee member effective September 30, 2026. He will remain a non‑executive employee through December 31, 2026 to support the transition.
• On July 29, 2026 the Board elected Erica McLaughlin as President and Chief Executive Officer, effective October 1, 2026. McLaughlin will also join the Board and its Executive Committee (her director term expires at the 2029 Annual Meeting). The company has begun a search for a new Chief Financial Officer.

Key Details

• Effective Oct. 1, 2026, McLaughlin’s base salary will be increased to $910,000 per year.
• McLaughlin’s target award under the 2018 Short Term Incentive Compensation Plan is increased to 120% of her base salary for performance periods beginning in fiscal 2027.
• Cabot entered a Transition Agreement with Keohane (filed as Exhibit 10.1): he will continue to receive base salary and benefits during the transition, and upon termination and execution of a release and non‑compete the company will (i) treat his outstanding equity awards as eligible for retirement vesting under the company’s equity plans and (ii) provide financial planning benefits for 24 months after retirement.
• A press release about the management transition was furnished as Exhibit 99.1.

Why It Matters

• This is a planned leadership transition that provides for continuity: a CEO succession date, retained assistance from the outgoing CEO through year-end, and a named internal successor with increased pay and incentive targets that signal leadership stability and alignment with company performance goals.
• Investors should note the vacancy at CFO and the company’s search for a replacement, as executive finance leadership can affect execution and reporting. The transition agreement’s retirement‑vesting treatment and post‑retirement benefits may affect executive compensation expense and outstanding equity settlement timing.