Chemours Names Dignam Permanent CEO

Global chemistry company Chemours has named interim CEO Denise Dignam president and CEO and member of the board of directors, effective immediately. Dignam was appointed to the interim position when then CEO Mark Newman and two other high-level executives were placed on administrative leave at the end of February for allegedly committing financial chicanery. Dignam was president of Chemours’ Titanium Technologies and Advanced Performance Materials businesses prior to being named interim CEO and has more than 35 years of experience in the chemicals industry, said Chemours in the announcement published on Friday.

Commitment to lead with transparency

Dignam said that she will be focused on strengthening the Wilmington, DE–based company’s 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.”

Search for permanent CFO continues

Chemours also announced that Matthew S. Abbott will continue in his role as interim chief financial officer (CFO) as it searches for a permanent CFO. Abbott took over the duties of Senior Vice President and CFO Jonathan Lock and Camela Wise, vice president, controller, and principal accounting officer, who were placed on administrative leave with Newman. An audit found that they were not transparent with the board of directors regarding financial transactions and violated the company’s code of ethics relating to the promotion of “full, fair, accurate, timely, and understandable disclosure.”

Related:Chemours Execs Placed on Leave as Company Investigates ‘Material Weaknesses’ in Financials

Diane Iuliano Picho, vice president of human resources and chief of staff at Titanium Technologies, will replace Dignam as president of that business on an interim basis while the company searches for a permanent replacement.