Ingevity names John C. Fortson as president, CEO and director
August 24 2020 - 6:15AM
Business Wire
Ingevity Corporation (NYSE:NGVT) today announced that it has
named John C. Fortson as the company’s president and CEO, and that
he would join the board of directors. Fortson had previously served
as Ingevity’s executive vice president, CFO and treasurer. The
appointment will be effective September 1, 2020.
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Ingevity Corporation (NYSE:NGVT) today
announced that it has named John C. Fortson as the company’s
president and CEO, and that he would join the board of directors.
(Photo: Business Wire)
“John presented the board with a compelling vision and strategy
for ‘Ingevity 2.0,’ based on his familiarity with the company and
its unique culture,” said Rick Kelson, chairman of the board. “His
business acumen and credibility with capital markets, combined with
his innate leadership skills, make John an ideal selection for
Ingevity’s next CEO.”
Over the past six months, a CEO Search Committee, led by Michael
Fitzpatrick, chair of the board’s Nominating, Governance and
Sustainability Committee—with the help of executive search firm
Spencer Stuart—conducted an exhaustive search including internal
and external candidates. “The board took a very diligent and
thorough approach to filling this key role,” said Fitzpatrick. “The
process enabled us to make a strong, confident selection that will
serve to benefit all of Ingevity’s stakeholders.”
Fortson joined Ingevity in October 2015 from AAR Corporation
where he served as vice president, chief financial officer and
treasurer since July 2013. Prior to joining AAR, he spent almost 15
years in the investment banking department of Bank of America
Merrill Lynch, working in the firm’s New York, London and Chicago
offices. As a managing director, Fortson had responsibility for
advising capital goods and heavy machinery companies. He spent
seven years as an infantry officer in the U.S. Army. His last
assignment was as a parachute rifle company commander in the 82nd
Airborne Division. Fortson is a graduate of the United States
Military Academy at West Point, and holds a Master of Business
Administration degree from Duke University’s Fuqua School of
Business.
“All of us at Ingevity are grateful to Rick for his leadership
as interim CEO during an unprecedented time,” said Fortson. “I’m
looking forward to working with the board and my friends and
colleagues at Ingevity to create the next phase of our company’s
successful journey. Our strategy remains fundamentally the same.
However, we will focus on sustainability, customer centricity and
innovation to drive growth. It’s a new day for the company, and
we’re ready to get to it.”
Fortson will continue to serve as the company’s CFO and
treasurer on an interim basis until a permanent replacement is
named.
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals, high-performance carbon
materials and engineered polymers that purify, protect and enhance
the world around us. Through a team of talented and experienced
people, Ingevity develops, manufactures, and brings to market
products and processes that help customers solve complex problems.
These products are used in a variety of demanding applications,
including asphalt paving, oil exploration and production,
agrochemicals, adhesives, lubricants, publication inks, coatings,
elastomers, bio-plastics and automotive components that reduce
gasoline vapor emissions. Headquartered in North Charleston, South
Carolina, Ingevity operates from 25 locations around the world and
employs approximately 1,850 people. The company is traded on the
New York Stock Exchange (NYSE: NGVT). For more information visit
www.ingevity.com.
Cautionary Statements About Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995. Such
statements generally include the words “will,” “plans,” “intends,”
“targets,” “expects,” “outlook,” or similar expressions.
Forward-looking statements may include, without limitation,
expected financial positions, results of operations and cash flows;
financing plans; business strategies and expectations; operating
plans; and the impact of COVID-19. Actual results could differ
materially from the views expressed. Factors that could cause
actual results to materially differ from those contained in the
forward-looking statements, or that could cause other
forward-looking statements to prove incorrect, include, without
limitation, adverse effects from the COVID-19 pandemic; adverse
effects of general economic and financial conditions; risks related
to international sales and operations; and the other factors
detailed from time to time in the reports we file with the SEC,
including those described under "Risk Factors" in our Annual Report
on Form 10-K, Form 10-Q and other periodic filings. These
forward-looking statements speak only as of the date of this press
release. Ingevity assumes no obligation to provide any revisions
to, or update, any projections and forward-looking statements
contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200824005170/en/
Laura Woodcock
843-746-8197 media@ingevity.com
Investors: Jack
Maurer 843-746-8242
investors@ingevity.com
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