Chemical huge Chemours has sacked its chief govt and chief financial officer after an interior analysis revealed suspicious accounting and compensation practices.
The DuPont spin-off had beforehand postponed reporting its 2023 financial outcomes and positioned chief govt Mark Newman, chief financial officer Jonathan Lock, and principal accounting officer Camela Wisel on administrative go away all by means of an interior analysis.
On 6 March, Chemours revealed that the analysis had found that Newman, Lock and Wisel violated the company’s code of ethics by, amongst completely different points, delaying funds to suppliers and accelerating assortment of various funds. Their intention was to fulfill publicly disclosed cashflow targets ‘which moreover might be part of a key metric for determining incentive compensation related to govt officers’. The analysis moreover found that anonymous tales to the company’s ethics hotline had not been appropriately evaluated and escalated for movement.
On 22 March, Chemours fully appointed Denise Digham, who had been performing as interim chief govt, to change Newman. The company might be recruiting a different for Lock.