WestRock Company announced today that it has successfully completed the separation of its specialty chemicals business, Ingevity Corporation, as an independent public company whose shares are listed on the New York Stock Exchange under the symbol “NGVT”.
Under the terms of the separation, WestRock stockholders received one share of Ingevity common stock for every six common shares of WestRock stock held as of the close of business on May 4, 2016. WestRock stockholders received cash in lieu of fractional NGVT shares.
“We are extremely pleased to complete the separation of Ingevity,” said Steve Voorhees, chief executive officer of WestRock. “Ingevity has the right team and strategy in place, and I am looking forward to following their successes as an independent company.”
NGVT shares will commence trading on the NYSE on May 16, 2016. WestRock will continue to trade on the NYSE under the symbol “WRK.”
With the transaction complete, WestRock expects to maintain its current annual dividend of $1.50 per share.
Source: WestRock
Neste Corporation’s Board of Directors has appointed Heikki Malinen, M.Sc. (Econ.), MBA (Harvard) as the President and CEO of Neste as of 2 November 2024, at the latest. Malinen joins Neste from Outokumpu Corporation where he has held the position of President and CEO since 2020.
Petrochemicals company Sasol has announced that CFO and executive director Hanré Rossouw will step down from his position, effective October 31. Sasol has started the process to appoint a successor. Rossouw will still oversee the publication of Sasol’s reports for the financial year ending June 30, to allow for a structured handover period.
Chemours announced its CFO Jonathan Lock has resigned from all positions within the company, according to an SEC 8-K filing on April 23. The resignation comes in the aftermath of the company announcing that Lock, former CEO Mark Newman, and principal accounting officer Camela Wisel, had been placed on administrative leave.
