The Chemours Company, a global chemistry company, announced that, during the fourth quarter of 2020, the Company divided its former Fluoroproducts segment into two new reportable segments: Thermal & Specialized Solutions ("TSS", formerly Fluorochemicals) and Advanced Performance Materials ("APM", formerly Fluoropolymers).
This change will enable an enhanced customer centered approach, management focus and decision-making, strengthened resource allocation, and increased transparency and accountability. Each business will be empowered to maximize its full potential through continued investments in innovation and technology that build on Chemours' unmatched expertise across both unique product portfolios, leading to strong long-term customer and shareholder value.
Accordingly, new leadership has been appointed to lead the TSS and APM segments and unlock the value in these businesses. Alisha Bellezza, current Vice President, Fluorochemicals, has been appointed President of TSS. Denise Dignam, current Vice President, Fluoropolymers, has been appointed President of APM. Edwin (Ed) Sparks, currently President of Fluoroproducts, will become President of the Titanium Technologies business upon the retirement of Bryan Snell. Each of these appointments will be effective March 1, 2021.
"Our Fluoroproducts business includes two highly customer-centered units that serve distinctly different customers with very specific needs. The decision to divide these new segments will allow us to capitalize on the unique market opportunities addressed by solutions from both units, while creating new growth opportunities for our customers," said Mark Newman, Chief Operating Officer. "This evolution in approach also accelerates our ability to continue to build a broad portfolio of high-performing advanced materials that will continue to drive innovation for technologies and markets that people around the world interact with every day."
