| Item 5.02 |
Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 28, 2024, the Board of Directors of The Chemours Company (“Chemours” or the “Company”) appointed Denise Dignam as the Interim Chief Executive Officer and Matthew Abbott as the Interim Chief Financial Officer (principal financial and accounting officer). On February 28, 2024, the Board placed President and Chief Executive Officer Mark Newman, Senior Vice President and Chief Financial Officer Jonathan Lock and Vice President, Controller and Principal Accounting Officer Camela Wisel on administrative leave pending completion of the Audit Committee review described in the press release attached as Exhibit 99.1 to the Current Report on Form 8-K furnishing select unaudited preliminary estimates of operating results and other financial measures as of and for the year ended December 31, 2023, furnished to the Securities and Exchange Commission on the date hereof.
Ms. Dignam, age 58, has been serving as the Company’s President – Titanium Technologies since March 2023. Ms. Dignam joined Chemours in 2015 and has served as our President – Advanced Performance Materials from 2021-2023; Vice President of Global Operations – Fluoroproducts, from 2019 to 2021; Global Senior Business Director – Fluoropolymers, from 2016 to 2019; and North American Business Director – Diversified Technologies and Industrial Resins, from 2015 to 2016. Previously, she worked at E.I. du Pont de Nemours and Company (“EID”) in various roles, including Director of Global Supply Chain – Fluoroproducts, from 2013 to 2014; Global Business Manager of Sulfur Products, from 2009 to 2013; and Global Sales Manager of Clean Technologies from 2007 to 2009. Ms. Dignam joined EID in 1988 as a design engineer.
Mr. Abbott, age 48, has been serving as the Company’s Senior Vice President & Chief Enterprise Transformation Officer, with responsibility for Enterprise Capital Projects and Engineering Technology, Information Technology, Cyber Security, Digital and Data Analytics, and Procurement, since June 2023. Mr. Abbott joined Chemours in 2017 and has served as Chemours’ Vice President, Digital and Data Analytics Leader from 2021 to 2023 where he was central to designing digital strategies to accelerate Chemours’ journey to becoming a data-driven organization. Past roles included Vice President, Chief Accounting Officer and Controller from 2019 to 2021; and Vice President and Chief Audit Executive from 2017 to 2019. Prior to joining Chemours, Mr. Abbott was a Partner at PricewaterhouseCoopers LLP (“PwC”) for five years, with nearly twenty total years of experience serving PwC’s industrial products and high-technology clients.
Neither Ms. Dignam nor Mr. Abbott have any family relationship with any of the Company’s executive officers or directors. There are no transactions for either Ms. Dignam or Mr. Abbott that would be reportable under Item 404(a) of Regulation S K. The Board may make changes to Ms. Dignam’s or Mr. Abbott’s existing compensation arrangements with respect to their respective appointments as Interim Chief Executive Officer and Interim Chief Financial Officer in the future.