Chemours is a different kind of chemistry company that believes in balancing the essential and the responsible to build a more colorful, capable, and cleaner world. Thriving today requires new technologies in automotive, telecommunications, energy, electronics, paints, plastics and beyond. Mr. Vergnano will be retiring from the company and will assume the position of non-executive Chairman of the company’s Board of Directors for the remainder of this year, assuring an effective transition of leadership to Mr. Newman.
GDP. I’d say in our business, most of the weakness we’ve seen to date has been in Europe and parts of Asia, specifically China. On auto, which you mentioned, we see auto consistent with IHS forecasts, being up slightly year-over-year. I think IHS is around 3% or 4%, so our full year is based on that outlook. The auto industry remains very challenged from a supply chain perspective, so that’s baked into our numbers. Just going back to TSS and focusing on the volume side, at least versus our estimates, that’s where there was some of the bigger surprise, but curious if you could comment on the 15% growth, where you saw the biggest opportunity there by market. Especially given automotive down year-over-year, that’s a pretty impressive number.
I just want to point to one more thing to what Mark said, is as you look at the pricing across our businesses, especially in TSS and APM, as we’ve talked in the past, there’s a big focus around driving the value and use, but pricing as well. As you know, our products are essential in driving larger secular trends and really enabling them, so as we look into that and the value that we deliver due to our customers, so there’s a big focus on the value in used pricing as well, which is–which you’re seeing in the numbers now. The current Chief Operating Officer of the Wilmington, Delaware-headquartered company, Mark Newman, will become President and CEO of Chemours, succeeding Mark Vergnano, who has served as President and CEO since the company’s founding in 2015. Live from London, tracking the breaking and top business news stories in the lead-up to the opening of European markets. Mark Vergnano is an accessible and collaborative leader with over 40 years of experience in the chemicals sector. He began his career at DuPont in 1980 as a process engineer and held various leadership positions before being named the first President and Chief Executive Officer of Chemours prior to its establishment as an independent company in 2015.
As I said in Q1, we have signed up with major OEMs of stationary equipment, from chillers to cooling equipment for supermarkets to air conditioning, and so that adoption is going quite well. Clearly with both F-gas in Europe and now AIM in the U.S., OEMs have two very large markets to serve that are moving to low global warming, so it’s really on that basis that we’re seeing this kind of growth. Again, that kind of growth is implied in the investment we’re making at Corpus, where we see a decade of growth related to this transition. With every new day, we move closer to clean energy solutions in our lives. Mark Newman was appointed CEO of Chemours on July 1, 2021, exactly six years to the day that Chemours (a spin-off from DuPont) became an independent company. Mark Newman succeeded Mark Vergnano, who retired as CEO after and spending more than 40 years in the chemical industry.
Building on our firm foundation, Chemours has a bright future with strong growth opportunities, and no one is better suited to lead us into this future than Mark Newman,” Vergnano added. “I am immensely proud of what we have achieved in establishing and then transforming ourselves into the solid company we are today. Mark Newman, the company’s current Chief Operating Officer, will become President and Chief Executive Officer of Chemours, succeeding Mark Vergnano, who has served as President and Chief Executive Officer since the company’s founding in 2015. Vergnano will be retiring from the company and assume the position of non-executive Chairman of the company’s Board of Directors for the balance of 2021, assuring an effective transition of leadership to Newman.
As the company’s second CEO, Mark has made an immediate impact ushering in a new chapter for Chemours, focused on more innovative and sustainable solutions, responsible manufacturing and environmental leadership, societal and community impact, and making Chemours the greatest place to work. Mark has also been a visible and vocal champion of inclusion and diversity, relaunching the Chemours Black Employee Network and acting as its initial executive sponsor. He also formed and then served as the executive sponsor of the Chemours Diversity and Inclusion Council, further embedding inclusion, diversity, and equity (ID&E) as a part of the company’s culture and ethos. From cell phones and automobiles to refrigeration, medical devices, high-speed data transfer that powers the Internet of Things, semiconductors, energy storage, and more, chemistry enables thousands of products that people use every day. As the world demands and expects more sustainability and higher performance in these products, chemistry will continue to play a significant role to enable game-changing innovations. Mark E. Newman, the CEO of Chemours, believes his company is uniquely positioned to meet these challenges.
The $6.1 billion company has seen its revenue decline over the past three years while its net profit has zigzagged from profit to loss to profit in the same timeframe. Please enable JavaScript or switch sendoso referral to a supported browser to continue using twitter.com. Beyond education and workforce development, Newman says that Chemours has adopted a mantra of holistic, or psychological, safety at the company.