Ingevity Corporation (NGVT) announced on Thursday that John Fortson has stepped down from his roles as President, Chief Executive Officer, and member of the Board of Directors, effective October 2.
The board of the company has temporarily appointed Luis Fernandez-Moreno, a current board director, as interim President and CEO, as they begin the search for a permanent successor.
Fortson has provided leadership at the helm of the company for the past nine years.
Jean Blackwell, Chair of the Board of Directors, remarked, "Under John's leadership, Ingevity successfully established itself as a stand-alone public entity, broadened its international presence, and emerged as a leader in crucial market sectors. We are thankful for his contributions..."
Fernandez-Moreno noted that Ingevity has achieved significant milestones in recent years, effectively steering through a phase of strategic transformation and portfolio optimization, positioning the company for sustained long-term success.
In pre-market trading on the NYSE, Ingevity's shares experienced a decline of approximately 3.3%, with the trading price at $36.22.
