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Espeland is currently the company's chief accounting officer and vice president of finance. He succeeds Richard Lorraine, who is stepping down.
Scott King will succeed Espeland, taking on the role in additional roles of vice president and controller.
Eastman Chemical also named Mark Costa as executive vice president and head of the company's polymers business group, effective Aug. 1. Costa is currently the senior vice president of corporate strategy and marketing. He succeeds Gregory Nelson, who is retiring.
Shares of Eastman Chemical closed Monday at $66.41. Ryan Vlastelica rv/vj
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