Ingevity ( (NGVT) ) has issued an announcement.
Ingevity Corporation has announced a leadership change with Luis Fernandez-Moreno stepping in as the interim President and CEO after John C. Fortson’s departure. The Board is actively seeking a permanent replacement. Fernandez-Moreno, already serving on the Board, brings a wealth of experience from the specialty chemicals industry to his new role. He will receive an annual salary of $3 million and a one-time equity award, with terms detailed in an offer letter that coincides with Fortson’s severance agreement as per his departure. The company aims to continue its progress and maintain its market leadership following this transition.
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