Chemours names new Titanium Technologies president

WILMINGTON, Del. - The Chemours Company (NYSE:CC), a $2.85 billion market cap chemical manufacturer currently operating with a significant debt burden of $4.29 billion, has appointed Damián Gumpel as the President of its Titanium Technologies business segment, effective March 3, 2025. According to InvestingPro data, the company maintains a current ratio of 1.73, indicating adequate short-term liquidity despite its debt load. The announcement comes after a global search to fill the position, which was previously held on an interim basis by Diane Iuliano Picho since March 2024.

Gumpel brings extensive experience in the chemical industry to his new role at Chemours, having previously held leadership positions at Olin (NYSE:OLN) Corporation and Dow Inc (NYSE:DOW). His background includes significant achievements in strategic vision, cost transformation, and commercial excellence, which Chemours CEO Denise Dignam believes will bolster the Titanium Technologies business.

Dignam expressed confidence in Gumpel's ability to continue the success of the TT Transformation Plan and contribute to Chemours' broader strategic initiative, the Pathway to Thrive strategy.

Alongside Gumpel's appointment, Diane Iuliano Picho has been named Chief Enterprise Enablement Officer, also effective March 3, 2025. In her new role, Picho will lead the Enterprise Enablement unit, focusing on Procurement and Centers of Excellence to improve operational processes across the company. Picho's experience spans over 40 years, covering all three of Chemours' business segments.

The company also announced the departure of Matthew Abbott, Senior Vice President and Chief Enterprise Transformation Officer, who will leave Chemours on February 3, 2025, to pursue a new opportunity. Dignam praised Abbott for his eight years of service and contributions to the company.

Chemours, headquartered in Wilmington, Delaware, serves customers globally across various markets, including coatings, plastics, and refrigeration, with products under brands like Opteon™, Freon™, and Teflon™. The company employs approximately 6,100 people and operates 28 manufacturing sites worldwide. With a significant dividend yield of 5.24% and revenue of $5.75 billion in the last twelve months, Chemours remains a notable player in the specialty chemicals sector. Detailed financial analysis and Fair Value assessments are available through InvestingPro's comprehensive research reports, which cover over 1,400 US equities.

This leadership change is part of the company's ongoing efforts to strengthen its market position and deliver value to shareholders. The information is based on a press release statement from The Chemours Company.

In other recent news, Chemours has seen significant developments, including the addition of Joseph Kava, Vice-President of Data Centers at Google (NASDAQ:GOOGL), to its board of directors. This strategic move, as noted by BMO Capital Markets, is expected to enhance Chemours' immersion cooling technology endeavors. Simultaneously, Chemours and The PCC Group have announced plans to construct a new chlor-alkali facility in DeLisle, Mississippi. This facility, with a capacity of 340 kilotons, is expected to produce an estimated 10-15% of the U.S. merchant chlorine market.

KeyBanc Capital Markets maintained its Overweight rating on Olin Corporation, despite potential EBITDA headwinds due to the new facility. Chemours also disclosed the pricing for its $600 million offering of senior notes due in 2033, aiming to redeem its outstanding euro-denominated senior notes due in 2026. Despite reporting a net loss of $27 million in its Third Quarter 2024 Earnings Call, Chemours noted a 1% year-over-year increase in consolidated net sales to $1.5 billion.

These developments highlight Chemours' strategic focus on capacity expansion, aiming for a 40% increase in Corpus Christi, Texas, by 2025. The company is actively managing its financial obligations while focusing on areas of growth and expansion.

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