Chemours Company, which operates globally in the manufacturing of chemicals, especially performance chemicals, has employed Shane Hostetter as the CFO (Chief Financial Officer) starting July 1, 2024. In this position, Hostetter will be heading up the company’s Finance, Investor Relations, Corporate Development, Strategy, and Enterprise Risk Management departments.
Hostetter has been associated with Quaker Chemical Corporation, a globally leading company specializing in industrial process fluids, a public company for the last 13 years where he worked as Senior Vice President and as CFO from April 2021. During his entire tenure at the Quaker Houghton company, Hostetter had several managerial positions that were of executive or senior executive level, namely the Vice President of Finance, the Chief Accounting Officer, and the Global Controller. He comes with extensive experience with all the financial things that affect the business in Chemours.
“We are delighted to welcome Shane Hostetter to the Chemours leadership team,” said Mark Vergnano, President, and CEO of Chemours. “Shane’s extensive financial expertise and proven track record of driving strategic initiatives make him an ideal choice to lead our financial operations. His deep understanding of the chemical industry and his commitment to operational excellence will be invaluable as we continue to execute our growth strategy and deliver value to our stakeholders.”
In his new capacity of Chemours Strategic financial officer, Hostetter will be tasked with being the head of financial function in Chemours, guaranteeing the company’s financial stability, and more importantly leadership responsibility to support Chemours’ growth agenda. He provides solutions in corporate finance, risk analysis, and strategic management, all of which are of paramount importance for the company’s future evolution.
By welcoming Hostetter on board, Matt Abbott, who became Interim CFO in February 2024, will revert to his pre-COVID position of SVP, and CETO. In this role, Abbott will concentrate on increasing growth, productivity and attaining the maximum operational efficiency in its structure.
Hostetter has been appointed at a suitable time to face the increasing and dynamic role of the chemical industry within Chemours. The expertise that Bristol has demonstrated in leadership and the understanding of the firm’s financial processes will be critical in determining Chemours’ success in the future and maintaining its position at the vanguard of technological and environmental advances.
“I am honored and excited to join Chemours, a company that is leading the way in performance chemicals,” said Hostetter. “Chemours’ commitment to innovation, operational excellence, and sustainability aligns with my values and vision. I look forward to working alongside the talented team at Chemours to build upon the company’s strong financial foundation and unlock new opportunities for growth and value creation.”
Chemours’ decision to offer the position of CFO to Hostetter goes further in showing the company’s keen interest on recruiting competent individuals and enhancing the efficiency of the business. Given Hostetter’s experience and strategic orientation, Chemours is likely to face and capitalize on future opportunities and risks, through the provision of sustainable growth and enhanced value for the shareholders.