WILMINGTON, Del., June 3, 2021 /PRNewswire/ -- The Chemours
Company (Chemours) (NYSE: CC), a global chemistry company with
leading market positions in Titanium Technologies, Thermal &
Specialized Solutions, Advanced Performance Materials, and Chemical
Solutions, today announces a series of leadership transitions
effective July 1, 2021.
Mark Newman, the company's
current Chief Operating Officer, will become President and Chief
Executive Officer of Chemours, succeeding Mark Vergnano, who has served as President and
Chief Executive Officer since the company's founding in 2015. Mr.
Vergnano will be retiring from the company and assume the position
of non-executive Chairman of the company's Board of Directors for
the balance of 2021, assuring an effective transition of leadership
to Mr. Newman. In this role he succeeds Richard H. Brown, current Chairman of the Board,
who has announced his intention to retire after leading the Board
of Directors for the last six years. With these changes,
Dawn Farrell, who has served on the
Board of Directors since the company's founding and is a member of
the Audit Committee and Compensation Committee, will become the
company's Lead Independent Director.
"I am honored and excited by the opportunity to lead Chemours,"
commented Mr. Newman. "This is a tremendously strong company that
is poised for continued growth. We have an unparalleled workforce
of 6,500 people who are committed to responsibly meeting the
demands of our changing world with our chemistry and products that
enable modern life. This exciting moment would not have been
possible without the hard work of our people, the collaborative
relationships that we have with our customers, and the leadership
of Mark Vergnano. I have worked
beside Mark for the last six years, and I personally understand how
significant his contributions have been. His dedicated leadership
of the business and the passion with which he lives our Chemours
values provide an example for all of us. I am delighted that Mark
will remain part of Chemours and look forward to working with him
as Board Chairman."
"Leading Chemours and its people since the company's founding
has been an absolute honor and privilege," said Mr. Vergnano. "I am
immensely proud of what we have achieved in establishing and then
transforming ourselves into the solid company we are today. As an
innovator and an industry leader in a continuously changing world,
there is so much more ahead for us to achieve. Building on our firm
foundation, Chemours has a bright future with strong growth
opportunities, and no one is better suited to lead us into this
future than Mark Newman. Mark has
been a true partner in everything we've accomplished since day one,
first as Chief Financial Officer and then as Chief Operating
Officer. He is an unwavering champion for our people, dedicated to
meeting and exceeding the needs of our customers, and committed to
upholding the values that anchor our company. I could not be more
confident in Mark and look forward to continuing to work with him
in my new role. I am taking the reins from Dick Brown, who has been an exemplary leader, a
mentor, teacher, and a true friend. I am grateful for all he has
done for me and for Chemours."
Mr. Brown added, "It has been an honor to be part of a new
company the caliber of Chemours and serve as Chairman of the Board
of Directors for six years. I am very thankful for the
relationships that I have formed throughout my time at the company
and look forward to remaining connected to the Chemours family. As
I reflect on this well thought out transition, I am confident that
Mark Newman will lead the company
effectively into its next phase of growth given his track record as
a leader. Mark Vergnano will be a
distinguished Chairman of the Board of Directors and Dawn Farrell will be an unwavering champion for
investor interests as Lead Independent Director. Both Mark and Dawn
will provide relentless dedication to all the company's
stakeholders."
A video message from Mark
Vergnano and Mark Newman is
available on the Chemours Investor Relations website.
Mark Newman joined
Chemours in 2014 as Senior Vice President and Chief Financial
Officer. He was instrumental in the launch of Chemours as a
stand-alone, publicly traded company and helped transform a
portfolio of businesses into a focused and profitable company. In
2019, Mr. Newman was appointed Chief Operating Officer with
responsibility over the company's global commercial businesses. He
oversaw the recent evolution of the former Fluoroproducts business
into two reportable segments: Thermal & Specialized Solutions
and Advanced Performance Materials. Throughout 2020, he also
chaired the company's Crisis Leadership Team which oversaw the
company's global response to the COVID-19 pandemic. Mr. Newman is
the executive sponsor of the Chemours Diversity and Inclusion
Council, the group charged with improving the company's overall
inclusion and diversity approach to talent acquisition and
development, company culture, and community engagement. Prior to
joining Chemours, Mr. Newman was Senior Vice President and Chief
Financial Officer of SunCoke Energy, where he oversaw strategy,
business development, and information technology. He also served in
a number of senior operating and finance leadership roles in
the United States and China, primarily with General Motors
Corporation, where he began his career in 1986. Mr. Newman
received his Bachelor of Applied Science degree in Mechanical
Engineering from the University of
Waterloo in Waterloo, Ontario,
Canada, and earned his Master of Business Administration
from the Richard Ivey Business School at the University of Western Ontario.
Mark Vergnano is an
accessible and collaborative leader with over 40 years of
experience in the chemicals sector. He began his career at DuPont
in 1980 as a process engineer and held various leadership positions
before being named the first President and Chief Executive Officer
of Chemours prior to its establishment as an independent company in
2015. He is the past Chairman of the Board of the American
Chemistry Council and Co-Chair of its Sustainability Committee. He
is the past Chairman of the Board and member of the National Safety
Council. Mr. Vergnano serves as Chairman of the Future of STEM
Scholars Initiative which he helped to create in 2020 and is the
primary benefactor of the newly formed Vergnano Institute for
Inclusion at his alma mater, the University of
Connecticut. He continues to serve on the Board of Directors
for Johnson Controls International.
Dawn Farrell is a retired
energy industry executive and the past President and CEO of
TransAlta Corporation. She spent much of her 35-year career in
various leadership positions with TransAlta and BC Hydro. She is a
past member of the board of directors of the Business Council of
Canada, Conference Board of
Canada and Alberta Business
Council.
About The Chemours Company
The Chemours Company (Chemours or the Company) (NYSE: CC) is a
global leader in Titanium Technologies, Thermal & Specialized
Solutions, Advanced Performance Materials, and Chemical Solutions
providing its customers with solutions in a wide range of
industries with market-defining products, application expertise and
chemistry-based innovations. We deliver customized solutions with a
wide range of industrial and specialty chemicals products for
markets, including coatings, plastics, refrigeration, and air
conditioning, transportation, semiconductor and consumer
electronics, general industrial, mining and oil and gas. Our
flagship products include prominent brands such as Ti-Pure™,
Opteon™, Freon™, Nafion™, Krytox™, Teflon™, and Viton™. In 2019,
Chemours was named to Newsweek's list of America's Most Responsible
Companies. The company has approximately 6,500 employees and 30
manufacturing sites serving approximately 3,300 customers in
approximately 120 countries. Chemours is headquartered in
Wilmington, Delaware and is listed
on the NYSE under the symbol CC.
For more information, we invite you to visit
chemours.com or follow us on Twitter @Chemours or
LinkedIn.
Forward-Looking Statements
This press release
contains forward-looking statements, within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, which involve risks and uncertainties.
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to a historical or current fact. The words
"believe," "expect," "will," "anticipate," "plan," "estimate,"
"target," "project" and similar expressions, among others,
generally identify "forward-looking statements," which speak only
as of the date such statements were made. These forward-looking
statements may address, among other things, the outcome or
resolution of any pending or future environmental liabilities, the
commencement, outcome or resolution of any regulatory inquiry,
investigation or proceeding, the initiation, outcome or settlement
of any litigation, changes in environmental regulations in the U.S.
or other jurisdictions that affect demand for or adoption of our
products, anticipated future operating and financial performance
for our segments individually and our company as a whole, business
plans, prospects, targets, goals and commitments, capital
investments and projects and target capital expenditures, plans for
dividends or share repurchases, sufficiency or longevity of
intellectual property protection, cost reductions or savings
targets, plans to increase profitability and growth, our ability to
make acquisitions, integrate acquired businesses or assets into our
operations, and achieve anticipated synergies or cost savings, all
of which are subject to substantial risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied by such statements. Forward-looking statements
are based on certain assumptions and expectations of future events
that may not be accurate or realized. These statements are not
guarantees of future performance. Forward-looking statements also
involve risks and uncertainties that are beyond Chemours' control.
In addition, the current COVID-19 pandemic has significantly
impacted the national and global economy and commodity and
financial markets, which has had and we expect will continue to
have a negative impact on our financial results. The full extent
and impact of the pandemic is unknown and to date has included
extreme volatility in financial and commodity markets, a
significant slowdown in economic activity, and increased
predictions of a global recession. The public and private sector
response has led to significant restrictions on travel, temporary
business closures, quarantines, stock market volatility, and a
general reduction in consumer and commercial activity globally.
Matters outside our control have affected our business and
operations and may or may continue to limit travel of employees to
our business units domestically and internationally, adversely
affect the health and welfare of our personnel, significantly
reduce the demand for our products, hinder our ability to provide
goods and services to customers, cause disruptions in our supply
chains, adversely affect our business partners or cause other
unpredictable events. Additionally, there may be other risks and
uncertainties that Chemours is unable to identify at this time or
that Chemours does not currently expect to have a material impact
on its business. Factors that could cause or contribute to these
differences include the risks, uncertainties and other factors
discussed in our filings with the U.S. Securities and Exchange
Commission, including in our Quarterly Report on Form 10-Q for the
quarter ended March 31, 2021 and in
our Annual Report on Form 10-K for the year ended December 31, 2020. Chemours assumes no obligation
to revise or update any forward-looking statement for any reason,
except as required by law.
CONTACT:
INVESTORS
Jonathan
Lock
VP, Investor Relations & Corporate
Development
+1.302.773.2263
investor@chemours.com
NEWS MEDIA
Thomas
Sueta
Director, Corporate
Communications
+1.302.773.3903
media@chemours.com
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SOURCE The Chemours Company