Specialty materials and chemicals company Celanese (NYSE:CE) announced this morning that chief operating officer Doug Madden will be retiring effective March 31.

Madden has worked at Celanese since 1984, when he was hired as a manager of corporate distribution. He has risen through the ranks in the three decades since, being named COO in 2009. He has been president of the company's acetate business since 2003 and president of the AT plastics and emulsions businesses since 2006. No reason was given for the retirement in the company press release, nor was a replacement named.

Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.