WILMINGTON, Del. - The Chemours Company (NYSE:CC), a global leader in chemical solutions, disclosed changes to its Board of Directors with the appointment of Pamela Fletcher as a director starting March 1, 2024, and the departure of Sandra Phillips Rogers (NYSE:ROG), who will not seek reelection after her term concludes.
Sandra Phillips Rogers has contributed to the company's direction and governance during her tenure, with Board Chair Dawn Farrell acknowledging her "valuable insights and dedicated service." As Rogers prepares to depart, Chemours welcomes Fletcher, whose background includes significant roles at Delta Airlines (NYSE:DAL) as the Chief Sustainability Officer and over 17 years at General Motors Company (NYSE:GM) in various engineering and leadership positions.
Fletcher's experience spans from engineering the Chevrolet Volt Propulsion System to leading GM's Global Electric Vehicle Programs and most recently serving as Vice President, Global Innovation. Her track record in sustainability and innovation is expected to complement the existing board's diversity and expertise.
Chemours President and CEO Mark Newman expressed gratitude to Rogers for her service and anticipation for the skills Fletcher will bring to the board, emphasizing her "legacy of innovation" and "deep roots in developing sustainable solutions."
The Chemours Company, headquartered in Wilmington, Delaware, operates in sectors including Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. With a workforce of around 6,600 employees, Chemours serves a global customer base across various industries, offering products under well-known brands such as Ti-Pure™, Opteon™, and Teflon™.
This announcement is based on a press release statement from The Chemours Company.
InvestingPro Insights
As The Chemours Company (NYSE:CC) navigates its board transitions with the strategic appointment of Pamela Fletcher and the departure of Sandra Phillips Rogers, it's an opportune time to examine the company's financial health and market performance through the lens of InvestingPro.
InvestingPro Data for Chemours reflects a challenging period, with a Market Cap of $4.14 billion and a notable decline in Revenue Growth over the last twelve months as of Q1 2023, registering at -14.61%. The company's Gross Profit Margin stands at 21.0%, indicating some efficiency in converting revenue to gross profit despite the downturn in revenue.
One of the InvestingPro Tips highlights that Chemours is not profitable over the last twelve months, which aligns with the reported Operating Income, Adjusted at -$93 million. This financial metric underscores the importance of Fletcher's role in steering the company towards more sustainable and potentially profitable strategies.
Another key InvestingPro Tip points out that the company is trading at a high Price/Book multiple of 5.44, suggesting that the market may be valuing the company's assets optimistically, perhaps in anticipation of future growth or in recognition of its intangible assets and market position.
For investors looking to delve deeper into Chemours' financials and future outlook, InvestingPro offers additional insights. There are currently 7 more InvestingPro Tips available for Chemours, which can be accessed at https://www.investing.com/pro/CC. To enhance your investing strategy, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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