Chemours director Curtis Anastasio to exit board

Published 18/02/2025, 13:08
Chemours director Curtis Anastasio to exit board

WILMINGTON, DE – The Chemours Company (NYSE:CC), a global chemical company with a market capitalization of $2.5 billion and a notable 5.94% dividend yield, announced today that board member Curtis V. Anastasio has decided not to seek re-election at the upcoming 2025 Annual Meeting of Stockholders.

His departure, set for when his current term ends, was shared in a recent SEC filing. According to InvestingPro analysis, the company currently operates with a significant debt burden while maintaining profitable operations.

Anastasio's decision to leave the board was not due to any disagreements with the company's operations, policies, or practices, as stated in the filing. His tenure and contributions to the board remained uncontroversial, and his exit appears to be a personal choice rather than a reflection of internal conflicts or issues within Chemours. The company maintains a current ratio of 1.73, though it faces challenges with $4.29 billion in total debt and a debt-to-equity ratio of 6.53.

Chemours, headquartered in Wilmington, Delaware, and incorporated in the state, has not yet announced a successor for Anastasio or detailed any changes to the board's composition following his departure. The company's leadership and stakeholders are expected to address this transition in due course, ensuring continuity in governance and strategic oversight.

The announcement comes without any immediate impact on Chemours' operations or strategic direction. The company continues to operate in its standard capacity, providing a range of chemical products and services across various industries under the organization name '08 Industrial Applications and Services.'

InvestingPro subscribers can access detailed analysis including 8 additional key insights and a comprehensive Pro Research Report, which provides essential intelligence for tracking Chemours' strategic developments and financial health.

In other recent news, Chemours Co reported an impressive fourth quarter revenue of $1.4 billion, exceeding the consensus estimate of $1.37 billion. However, the chemical company's adjusted earnings per share slightly missed analysts' expectations, coming in at $0.11 instead of the projected $0.12. For the full year 2024, Chemours turned the tables with a net income of $86 million, a significant shift from the net loss of $238 million reported in 2023.

Despite a 5% decline in annual revenue to $5.8 billion, the company's outlook remains positive. Chemours anticipates an adjusted EBITDA between $825 million and $975 million for 2025, with capital expenditures projected to be between $250 million and $300 million.

These recent developments reflect the company's ongoing execution of its Pathway to Thrive strategy, as stated by Chemours President and CEO, Denise Dignam. Despite the mixed Q4 results, investors seem to be cautiously optimistic about the company's future.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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