DuPont separates performance chemicals business as Chemours

DuPont announced the formation of The Chemours Company, the new public company created following completion of the pending separation of its performance chemicals segment. In addition, DuPont disclosed Chemours’ executive leadership team and announced the filing of the initial Form 10 registration statement with the US Securities and Exchange Commission (SEC).
 
Ellen Kullman, chair and chief executive officer, DuPont, said, “Today's announcements continue our solid progress to complete the separation of performance chemicals and create two strong, publicly traded companies with distinct value creation strategies. DuPont and Chemours will each be global leaders, well positioned to pursue their respective objectives and strategies.”
 
Following its separation from DuPont, Chemours will be a new, publicly traded global leader in titanium dioxide, fluoroproducts and chemical solutions. The name reflects a focus on the science of chemistry and the heritage of the Du Pont family origins in Nemours, France.
 
Chemours will have approximately 9,100 employees, 37 production facilities in 12 countries, and will serve over 5,000 customers worldwide.
 
As announced earlier this year, DuPont executive vice president Mark Vergnano will become president and chief executive officer of Chemours. Mark Newman will serve as senior vice president and chief financial officer. B C Chong and Thierry F J Vanlancker will continue to lead the titanium technologies and the fluoroproducts businesses, respectively.
 
Additional members of the new company’s executive leadership team were announced today: Christian W Siemer will lead the chemical solutions business; E Bryan Snell will lead productivity and strategy; David C Shelton will serve as general counsel and corporate secretary; Beth Albright will lead human resources; and Erich S Parker will lead corporate communications.