Chemours (NYSE:CC) stock is falling on Thursday after the company announced executive changes as it undergoes an internal review from the Audit Committee of the board of directors.
The big news here is CEO Mark Newman, senior vice president and Chief Financial Officer Jonathan Lock, as well as vice president, controller and Principal Accounting Officer Camela Wisel, being placed on administrative leave.
With these changes, Denise Dignam is serving as interim CEO, and Matt Abbott is acting as the interim CFO of Chemours. Both have long histories in the sector and have held previous roles at the company.
CC Stock: Internal Review Details
The subject of the internal review covers a few hot topics at the company. Among them are reports to the company’s Ethics Hotline, practices for managing working capital, certain non-GAAP metrics included in filings and other related disclosures.
Chemours is working alongside outside counsel for this review. The company intends to provide any needed updates in its annual 10-K filing.
Today’s news has rattled CC stockholders, with the company’s shares down 36.3% as of Thursday morning. That comes alongside some 510,000 shares changing hands, as compared to its daily average of about 1.2 million units.
Investors searching for even more of the most recent stock market stories are going to want to stick around!
We have all of the hottest stock market news that traders need to know about on Thursday! A few examples include what’s sending shares of Volcon (NASDAQ:VLCN) and Societal CDMO (NASDAQ:SCTL) stock higher, as well as a look at the biggest pre-market stock movers this morning. You can get up to speed on all of these matters by checking out the links below!
More Thursday Stock Market News
- Why Is Volcon (VLCN) Stock Up 51% Today?
- Why Is Societal CDMO (SCTL) Stock Up 133% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
