BMO Capital Downgrades Chemours (CC) to Underperform
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Chemours (CC) crashes 35% after placing top execs on leave, Q4 report delayed
February 29, 2024 9:46 AM ESTShares of Chemours (NYSE: CC) crashed approximately 35% at the market open on Thursday after the company announced it is putting its top executives on administrative leave amidst an internal review concerning its accounting practices.
The review, led by the board's audit committee with help from external counsel, is examining the ethics hotline reporting procedures, working capital management practices, and certain non-GAAP metrics' accuracy.
President and CEO Mark Newman, CFO... More
Chemours (CC) places CEO and CFO on administrative leave
February 29, 2024 7:23 AM ESTThe Board of Directors of The Chemours Company (Chemours or the Company) (NYSE: CC) has appointed Denise Dignam as the Interim Chief Executive Officer and Matt Abbott as the Interim Chief Financial Officer (principal financial and accounting officer).
Ms. Dignam joined Chemours in 2015 and has served as our President Titanium Technologies since March 2023 and previously served as our President Advanced Performance Materials from 2021 to 2023. She previously served as 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.... More
Chemours shares slump as top executives put on leave, results delayed again
February 29, 2024 7:10 AM ESTBy Arunima Kumar
(Reuters) -Chemours shares plunged to a more than three-year low after the chemical maker placed its top three executives, including CEO Mark Newman, on administrative leave and said it was looking into potential "material weaknesses" in its financial reporting.
The internal review also prompted the company to further delay the reporting of its fourth-quarter and full-year results, without disclosing a new date. Chemours earlier this month said it would delay its results to Feb.... More
