Leadership change and unchanged forecast send Avient stock tumbling 8%

Investing.com -- Avient Corp (NYSE:AVNT) shares tumbled over 8% on Friday morning after the specialty materials producer announced an abrupt leadership transition alongside reaffirmed financial targets. The market reacted sharply to the departure of Chief Executive Officer Dr. Ashish K. Khandpur, who will be succeeded immediately by former UPL Corporation head Mike Frank while remaining as an advisor through year-end.