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In a recent annual meeting, Chemours Co (NYSE:CC), currently trading at $12.44 and offering an 8.45% dividend yield, held its shareholder voting session. According to InvestingPro data, the company operates with a significant debt burden but expects net income growth this year. The meeting, held on April 22, 2025, led to the election of all twelve director nominees who will serve a one-year term. The company’s "say-on-pay" proposal, which allows shareholders to give advisory approval on executive compensation, was also approved.
However, the shareholders did not pass all items on the agenda. Notably, a proposed amendment to the company’s Amended and Restated Certificate of Incorporation, which would eliminate supermajority voting provisions, did not reach the required 80% threshold for approval. Additionally, a shareholder proposal to adopt a policy assessing the company’s impact on biodiversity was not approved. This comes as the stock has experienced significant volatility, with a -34.49% return over the past six months.
PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for Chemours. The detailed results of the voting showed strong support for most of the nominees, with the percentage of votes in favor ranging from 92.8% to 98.8%. The "say-on-pay" received a 93.8% approval, while the ratification of the accounting firm saw a near-unanimous 98.9% in favor.
These decisions reflect shareholder perspectives on the governance and future direction of Chemours. The company, incorporated in Delaware and known for its chemical products, has now publicly filed the outcomes of these votes as part of its regulatory obligations.
This report is based on a press release statement and provides a summary of the key outcomes from the Chemours annual shareholder meeting.
In other recent news, Chemours Company has seen a mix of analyst actions and company developments. Mizuho (NYSE:MFG) Securities upgraded Chemours from ’Neutral’ to ’Outperform’ with a price target of $19.00, citing positive factors such as the normalization of Freon-related inventories and stabilization in specialty plastics. However, Mizuho later adjusted the price target down from $21.00 to $19.00, maintaining a ’Neutral’ rating due to Chemours’ fiscal year 2025 EBITDA guidance, which fell short of consensus estimates. RBC Capital Markets also revised its outlook, lowering Chemours’ price target from $25.00 to $17.00, while maintaining an ’Outperform’ rating, influenced by ongoing demand challenges and recent tariff implementations.
Chemours reported a 2% year-over-year increase in adjusted EBITDA for the December quarter of 2024, reaching $179 million, despite a decline in volume. The company’s guidance for the March quarter of 2025 adjusted EBITDA, however, is below expectations. In corporate governance news, Chemours announced that board member Guillaume Pepy will not seek re-election at the 2025 Annual Meeting of Shareholders, with no disagreements cited regarding company operations. Analysts at RBC Capital anticipate margin expansion for Chemours’ Titanium Dioxide segment in fiscal year 2025, though with moderated price expectations. Meanwhile, Mizuho analysts noted that no new near-term PFAS restrictions are anticipated, which could provide financial leeway for Chemours ahead of a potential settlement in the New Jersey PFAS trial.
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