WILMINGTON, Del., June 4, 2019 /PRNewswire/ -- The Chemours Company (Chemours) (NYSE: CC), today announced the promotion of Mark Newman to the newly created role of chief operating officer. Newman previously served as the company's chief financial officer. As the company's first COO, he will have responsibility for all three global businesses: Titanium Technologies, Fluoroproducts, and Chemical Solutions. Newman will continue to report to Mark Vergnano, president and CEO of Chemours. Additionally, vice president of business finance and treasurer Sameer Ralhan has been promoted to the position of senior vice president, chief financial officer and treasurer. He too will report to Mark Vergnano. Both promotions are effective immediately.
Mr. Newman joined Chemours in 2014 prior to its spin-off from DuPont. He has held the position of senior vice president and CFO since 2015, when The Chemours Company became a stand-alone, publicly-traded company.
"Mark is a talented and trusted leader with a track record of consistently delivering results and driving change since our spin from DuPont in 2015," said Mark Vergnano, president and CEO of Chemours. "His leadership during the execution of our five-point transformation plan was critical to our early success. Mark is uniquely qualified to help drive operational excellence and unlock the value embedded across our entire roster of industry-leading businesses. I look forward to continuing to work with Mark in his new role for many years to come."
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. He is the executive sponsor of the Chemours Black Employees Network (CBEN) and serves on the board of directors for Altria Group, Inc.
Since joining Chemours in 2014, prior to the spin-off from DuPont, Mr. Ralhan has held positions of increasing responsibility across strategy, M&A, finance, and the treasury functions. He served as a key member of the executive team that led the company's five-point transformation plan and was directly responsible for leading portfolio transformation, divestiture efforts, and financing activities.
"Chemours is committed to developing top talent like Sameer, and we are excited to move him into the role of CFO." said Mark Vergnano. "Sameer has shown great leadership as a member of the finance function and brings a wealth of experience to his new role. His contributions over our first four years clearly demonstrate that we are in good hands and that as CFO he will continue to drive the acceleration of our growth plans and the creation of long-term shareholder value."
Mr. Ralhan joined Chemours in November 2014 from Goldman Sachs & Co. where he was a managing director in the Global Natural Resources Group. He brings 10 years of investment banking experience, advising companies in the chemicals and basic materials sectors on a variety of M&A, portfolio transformations, corporate finance matters, and capital markets transactions. He began his career as a chemical engineer and brings chemical industry operating experience from his time at Aspen Technology, Inc., where as an advanced process control engineer he executed process improvement and operational enhancement initiatives for several global chemical and petrochemical companies.
Mr. Ralhan holds a Bachelor of Technology in Chemical Engineering from the Indian Institute of Technology, as well as MS and PhD degrees in Chemical Engineering from Rice University, and a Masters of Business Administration from the University of Chicago, Graduate School of Business.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in titanium technologies, fluoroproducts, and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining, and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours published its first corporate responsibility commitment report in 2018, which highlights goals aligned with the United Nations Sustainable Development Goals. The company has approximately 7,000 employees and 28 manufacturing sites serving approximately 3,700 customers in over 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
Forward Looking Statements
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that 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 any historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "anticipate," "target," "project," and similar expressions, among others, generally identify "forward-looking statements" which speak only as of the date the statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, litigation and other legal proceedings or contingencies, anticipated future operating and financial performance, business plans and prospects, transformation plans, cost savings targets and plans to increase profitability, that 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 which may not be accurate or realized. Forward-looking statements also involve risks and uncertainties which are beyond Chemours' control. 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 Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2018. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
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