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Chemours Co (NYSE:CC), a leading chemical company with annual revenues of $5.78 billion, announced today that board member Guillaume Pepy has decided not to seek re-election at the upcoming 2025 Annual Meeting of Shareholders. Pepy’s departure, scheduled for the end of his current term, is not due to any disagreements with the company’s operations, policies, or practices, as clarified in a recent 8-K filing with the Securities and Exchange Commission (SEC).
Pepy has been part of the board of directors, contributing to the governance of the Delaware-incorporated company, which is known for its work in the chemicals and allied products sector. According to InvestingPro data, the company maintains a significant market presence with a $2.01 billion market capitalization, though it operates with a notable debt-to-equity ratio of 7.21. The company, with its principal executive offices located in Wilmington, Delaware, has been serving its stakeholders under the leadership of executives like Shane Hostetter, the Senior Vice President and Chief Financial Officer.
The news of Pepy’s upcoming departure comes without any additional details regarding the reasons for his decision not to stand for re-election or any potential candidates who might be considered to fill the vacancy on the board. The company’s common stock, CC, is traded on the New York Stock Exchange, currently trading near its 52-week low of $13.30, offering a substantial dividend yield of 7.08%.
This announcement, based on the company’s SEC filing, does not reflect any internal discord or issues within Chemours, indicating a routine transition in the company’s leadership structure. Shareholders and the market will be watching closely for any further announcements related to the board’s composition or strategic direction following Pepy’s exit.
The information provided in this article is based on a press release statement from Chemours Co and the corresponding SEC filing, ensuring an accurate and unbiased report of the events.
In other recent news, Chemours Company reported its fourth-quarter 2024 earnings, showcasing a slight miss on earnings per share (EPS) expectations but exceeding revenue forecasts. The company posted an EPS of $0.11, just below the $0.12 forecast, while revenue reached $1.4 billion, surpassing the anticipated $1.37 billion. Despite a 5% decline in full-year net sales to $5.8 billion, Chemours achieved significant cost savings and plans further reductions. Mizuho (NYSE:MFG) Securities revised Chemours’ stock target to $19, maintaining a Neutral rating, following the company’s FY25 adjusted EBITDA guidance, which fell short of consensus estimates. Similarly, Jefferies reduced its price target for Chemours to $20, continuing with a Hold rating, while noting the company’s fourth-quarter EBITDA of $179 million exceeded both consensus and Jefferies’ estimates. Analysts highlighted a potential uptick in construction demand and the adoption of Chemours’ Opteon refrigerant product as factors that could contribute to future growth. However, challenges remain due to weak demand in certain markets, including semiconductor wafer fabrication equipment and hydrogen electrolyzers.
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