Chemours Announces Board and Executive Changes

Ticker: CC · Form: 8-K · Filed: 2024-06-05T00:00:00.000Z

Sentiment: neutral

Topics: management-change, board-of-directors, executive-compensation

Related Tickers: CC

TL;DR

Chemours is shuffling its board and exec comp. Watch for strategic shifts.

AI Summary

On May 31, 2024, The Chemours Company filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key executives. Specific details regarding the individuals involved and the financial implications of these changes are outlined within the report.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance, impacting investor confidence and stock valuation.

Risk Assessment

Risk Level: medium — Changes in leadership and compensation structures can introduce uncertainty regarding future strategy and financial performance.

Key Players & Entities

FAQ

What specific roles have been affected by the departure of officers?

The filing indicates the departure of certain officers, but does not specify their exact roles or titles within this summary section.

Who are the newly elected directors?

The filing mentions the election of new directors but does not list their names in the provided text.

What are the key changes in compensatory arrangements?

The filing notes updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not provided in this excerpt.

What is the primary reason for these board and executive changes?

The filing does not explicitly state the primary reason for these changes, only that they are being reported under the relevant SEC form items.

When was the previous company name change for Chemours?

The former company name, Chemours Company, LLC, changed to The Chemours Company on December 5, 2014.

From the Filing

0000950170-24-069063.txt : 20240605 0000950170-24-069063.hdr.sgml : 20240605 20240605063734 ACCESSION NUMBER: 0000950170-24-069063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240531 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240605 DATE AS OF CHANGE: 20240605 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Chemours Co CENTRAL INDEX KEY: 0001627223 STANDARD INDUSTRIAL CLASSIFICATION: CHEMICALS & ALLIED PRODUCTS [2800] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 464845564 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36794 FILM NUMBER: 241020674 BUSINESS ADDRESS: STREET 1: 1007 MARKET STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 302 773 1000 MAIL ADDRESS: STREET 1: 1007 MARKET STREET CITY: WILMINGTON STATE: DE ZIP: 19801 FORMER COMPANY: FORMER CONFORMED NAME: Chemours Company, LLC DATE OF NAME CHANGE: 20141205 8-K 1 cc-20240531.htm 8-K 8-K 0001627223 false 0001627223 2024-05-31 2024-05-31     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934   May 31, 2024 Date of Report (Date of Earliest Event Reported)   The Chemours Company (Exact Name of Registrant as Specified in Its Charter)   Delaware   001-36794   46-4845564 (State or Other Jurisdiction   (Commission   (I.R.S. Employer Of Incorporation)   File Number)   Identification No.)   1007 Market Street Wilmington , Delaware 19801 (Address of principal executive offices)   Registrant’s telephone number, including area code: (302) 773-1000   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of Each Class   Trading Symbol(s)   Name of Exchange on Which Registered Common Stock ($0.01 par value)   CC   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐         Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On May 31, 2024, the Board of Directors (the “Board”) of The Chemours Company (the “Company”) appointed Shane Hostetter as Chief Financial Officer, effective as of July 1, 2024. Mr. Hostetter also will serve as the Company’s principal accounting officer. Mr. Hostetter succeeds Matthew Abbott, who has served as the Interim Chief Financial Officer (principal financial and accounting officer) since February 28, 2024. Mr

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