Chemours names new chief accountant

July 31, 2024 20

David A. Will } PHOTO COURTESY OF CHEMOURS

WILMINGTON — Chemours has named a new controller and chief accounting officer this week, signaling the end of a tumultuous time when top executives were placed on leave following an internal investigation.

David A. Will, 40, was appointed chief accounting officer on July 23, after serving roughly a year in key roles at Copeland LP, a manufacturer of HVACR solutions and software. Will has served as interim chief financial officer at the Ohio-based company since February 2024 and vice president and global controller since September 2023.

Before his tenure at Copeland LP, Will spent a good deal of his career at chemical company Quaker Houghton, dating back to 2014. His roles include global assistant controller for five years, corporate control for three years and eventually principal accounting officer.

Chemours representatives declined to comment to the Delaware Business Times on Will’s appointment.

At Chemours, Will will be responsible for managing Delaware’s chemical company’s accounts on a day-to-day basis as well as assessing financial risks, auditing and setting internal controls.

Will’s start date at Chemours is set for Aug. 12. He will earn a base salary of $410,000 as well as a signing bonus of $325,000, according to the company’s U.S. Security and Exchange Commission filings. He will also be eligible for a bonus up to 50% of his annual base salary and a long-term incentive up to $300,000, among other stock options.

Will’s appointment marks the final financial executive appointment needed to replace those who left Chemours in the spring after the fallout from an internal investigation. Chemours board members received an anonymous tip regarding financial decisions. An internal audit found that previous executives, including CEO Mark Newman, altered the appearance of the company’s cash flow targets which ultimately triggered bonuses for executives at Chemours.

In March, Newman left the company and Chemours appointed Denise Dignam as its new leader. Dignam joined the chemical company in 2015, roughly around the same time the chemical titan spun off from DuPont. She has held various executive roles at the company and DuPont, and her resume boasts of 35 years of experience in the chemical industry.

Chemours appointed Shane Hostetter as its chief financial officer earlier this summer. He will continue to serve as interim chief accounting officer until Will arrives at the company.