The Chemours Company named Denise Dignam, current Interim Chief Executive Officer, to the positions of President, Chief Executive Officer, and a member of the Board of Directors, effective immediately.
She succeeds Mark Newman, who had earlier been placed on leave while an investigation into company finances took place. The probe has led to delays in issuing the fourth quarter and year-end earnings reports. Two other top Chemours officials were also placed on leave.
Dignam joined Chemours in 2015. She brings over 35 years of experience in the chemical industry where she has held senior roles in business and operations, sales and marketing, commercialization, and supply chain.
She had served as Interim Chief Executive Officer since February 2024, and before that held the positions of President, Titanium Technologies segment, and President, Advanced Performance Materials (APM) segment—two businesses that represent over 68% of Chemours’ net sales in 2023.
According to a release, Dignam implemented a titanium business transformation plan, delivered operational savings in 2023, refocused the portfolio to deliver more customer value, and developed process improvements for better resource utilization across the manufacturing circuit. During her tenure on Advanced Performance Materials, she reshaped the portfolio to focus resources on growth opportunities in Clean Energy and Advanced Electronics.
Dignam said, “I am excited and honored to take on the role of President and CEO. Chemours is defined by its leading chemistries, the customer applications that our chemistries enable, our manufacturing capabilities, and as importantly, our people and core values. Looking ahead I will be focused on strengthening our portfolio with high-value and emerging growth opportunities, and ensuring we are operating as efficiently, effectively, and safely as possible. I am committed to continuing to lead with transparency as we do the hard work required to keep building our businesses for today and into the future. I want to thank our Chemours employees around the world, who are the cornerstone of our success, and our customers and partners for their continued support.”
In addition, Matthew S. Abbott, Interim Chief Financial Officer (CFO), will continue in his role while the company starts a comprehensive search for a permanent CFO.
Diane Iuliano Picho, Vice President of Human Resources and Chief of Staff, Titanium Technologies, will become Interim President, Titanium Technologies while a search for a permanent segment president takes place.
Diane has a 40-year career that includes experience in R&D, operations, HR, sales, marketing, and commercial leadership. Previously, Diane was the Vice President of Commercial Operations for the Advanced Performance Materials segment. Before Chemours, Picho served in roles at DuPont Co.
According to a filing with the Securities and Exchange Commission, Dignan’s total target direct compensation was changed to an annual base salary of $975,000 (retroactive to her appointment as Interim Chief Executive Officer), a target annual bonus opportunity of 120% of her annual base salary and a target long-term incentive award opportunity of $4,355,000.
Newman, who resigned as CEO entered into a separation agreement that will be treated as a retirement in exercising stock options. Newman is not entitled to any severance, equity award vesting or other compensation in connection with his resignation, other than any rights he has to vested benefits under the terms of the company’s employee benefit plans.
Chemours is based in Wilmington and operates a research center in Newark.
