Eastman Chemical CEO James Rogers will be the company's chairman starting Jan. 1, while the company's board will be declassified, paving the way for an annual election of board members beginning in 2012, the company said. "The board believes these latest actions are in the best interests of Eastman and its stockholders, and are further demonstration of the company's ongoing commitment to strong corporate governance," said Howard Lance, who heads the nominating and governance committee of Eastman's board.

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