Ingevity CEO John Fortson Resigns, Names Interim CEO; Stock Down In Pre-market

(RTTNews) - Ingevity Corp. (NGVT) announced Thursday that John Fortson has departed as president and chief executive officer and from the board of directors, effective as of October 2.

The company's board has appointed current board director, Luis Fernandez-Moreno, as interim president and chief executive officer while it conducts a search for a permanent replacement.

Fortson has been in the company's leadership role over the past nine years.

Jean Blackwell, chair of the board of directors, said, "Under John's guidance, Ingevity successfully transitioned into a standalone public company, expanded its global footprint and established itself as a leader in key markets. We are grateful for his contributions..."

Fernandez-Moreno added that Ingevity has made significant progress in recent years, successfully navigating a period of strategic transformation and portfolio optimization, and that the company is well-positioned for long-term success.

In pre-market activity on the NYSE, Ingevity shares were losing around 3.3 percent to trade at $36.22.