WILMINGTON, Delaware–(BUSINESS WIRE)–The Chemours Company (“Chemours”) (NYSE: CC), a global chemicals company with market-leading positions in titanium technologies, thermal and specialty solutions and advanced performance materials, announced today Today David Shelton, Senior Vice President, General Counsel and Corporate Secretary announced his intention to retire from Chemours at the end of 2023. As part of his transition plan, effective October 1, Mr. Shelton will focus exclusively on leading and managing the resolution of the company’s legacy liabilities and related responsibilities. remediation programs and act as legal counsel reporting directly to CEO Mark Newman. Along with this change, effective October 1, Kristine Wellman, currently Vice President, Strategic Planning, will be promoted to Senior Vice President, General Counsel and Corporate Secretary, leading all non-legacy aspects of the legal function, more from government business, ethics and compliance, corporate remediation and security.
David Shelton, Senior Advisor to the CEO
Mr. Shelton has over 30 years of legal experience. His contributions over the past 7 years at Chemours have helped position the company to achieve the transformative growth ambitions and strategic priorities outlined in CEO Mark Newman’s vision for the Chemours business. Under Mr. Shelton’s leadership and stewardship of legacy responsibilities, the company achieved significant legal milestones, including a historic memorandum of understanding with DuPont and Corteva. Beyond business performance, Mr. Shelton has been a key driver of the company’s commitment to unwavering integrity.
Chemours President and CEO Mark Newman has made clear his appreciation for Mr. Shelton’s presence on his leadership team. Mr Newman said: “From the outset, Dave demonstrated exceptional personal leadership and achieved significant results, including building a deep and diverse legal team. He was a model of tenacity, courage and integrity for the entire organization. Without a doubt, Dave has had a positive impact on this business that will be felt for years to come.
Mr Newman added: “Resolving legacy disputes is one of my strategic priorities for the company, and we are fortunate that Dave is singularly focused on these efforts before he retires from Chemours. We will benefit greatly from his continued leadership and focus on these issues. »
Kristine Wellman, Senior Vice President, General Counsel and Corporate Secretary
Ms. Wellman comes to her new leadership role with more than 20 years of legal experience, outstanding performance and an in-depth knowledge of the Chemours business. As a member of the spin-off’s legal leadership team, Ms. Wellman was instrumental in Chemours’ success as an independent public company, and she developed the company’s corporate governance framework. organization.
During her tenure at Chemours, Ms. Wellman enhanced her business skills and knowledge through assignments outside of the legal discipline. She served as Plant Manager at the Chemours Chambers Works manufacturing site, where she led the operations team safely through the initial phase of the pandemic, maintaining full production without disruption. She also contributed to the overall organizational design of the new Advanced Performance Materials business unit and became the leader of its sustainability strategy, positioning Chemours as a leader in responsible chemistry. This led her to her current role, leading a team responsible for strategic analysis and planning related to a dynamic regulatory environment.
Mr Newman said: “Kristine has already made significant contributions to Chemours, and I couldn’t be happier to bring her diverse backgrounds to the leadership team. I also have every confidence that she brings the level of talent and energy needed to continue to develop a suitable legal function that can accelerate our Chemours 2.0 transformation.
“These changes to our leadership team allow us to execute an orderly succession while focusing on resolving our legacy liabilities. I know that Dave and Kristine will work tirelessly and fearlessly to position Chemours for continued success at this pivotal time for the company and beyond,” concluded Mr. Newman.
About Chemours Company
The Chemours Company (NYSE: CC) is a global leader in titanium technologies, thermal and specialty solutions and advanced performance materials, providing customers with solutions across a wide range of industries with market-defining products, expertise in applications and innovations based on chemistry. We offer custom solutions with a wide range of industrial and specialty chemicals for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductors and consumer electronics, general industrial , oil and gas. Our flagship products include renowned brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™ and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 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, 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 historical or current fact. The words “believe”, “expect”, “will”, “anticipate”, “plan”, “estimate”, “target”, “project” and similar expressions, among others, generally identify “forward-looking statements who speak only as of the date these statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any outstanding or future environmental liabilities, the commencement, outcome or resolution of any investigation, inquiry or regulatory proceeding, the initiation , the outcome or settlement of any litigation, changes in environmental regulations in the United States or other jurisdictions that affect the demand for or adoption of our products, the expected future operational and financial performance of our segments individually and our company as a whole, business plans, outlook, targets, objectives and commitments, capital investments and projects and target capital expenditures, dividend or share buyback plans , sufficiency or longevity of intellectual property protection, cost reduction or savings targets, plans for increasing profitability and he growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, which are subject to substantial risks and uncertainties that could cause results actual results 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. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties beyond Chemours’ control. Additionally, the current COVID-19 pandemic has had a significant impact on the national and global economy as well as commodity and financial markets, which has had and we expect will continue to have an impact. negative on our financial results. The scale and impact of the pandemic is still being determined and to date has included significant financial and commodity market volatility and severe disruption to economic activity. The public and private sector response has resulted in travel restrictions, temporary business closures, quarantines, stock market volatility, and disruptions to consumer and commercial activities around the world. Matters beyond our control have affected our business and operations and may or may continue to impair our ability to provide goods and services to customers, disrupt our supply chains, harm our business partners, significantly reduce demand for our products, to the health and welfare of our staff or cause other unforeseeable events. In addition, 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 United States Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Chemours undertakes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
