- After about three years in the position
- Praise and thanks for Turgeon
- Elimination of Dual chief executive officer role
- John Romano becomes sole chief executive officer
- Turgeon said 83 words
(exechange) — Stamford, Connecticut, October 25, 2023 — JF Turgeon, co-chief executive of Tronox, leaves his position. As announced by Tronox Holdings Plc in a news release on Wednesday, October 25, 2023, Jean-François (JF) Turgeon leaves his post as co-chief executive officer at the manufacturer of titanium dioxide pigment, after about three years in the role, effective April 1, 2024.
Tronox eliminates the dual chief executive officer role. John D. Romano will be sole chief executive officer.
“Now is the right time to move to a simplified leadership structure”
The planned management change is explained as follows. Chairman of the Board, Ilan Kaufthal, stated: “With JF’s planned retirement, the Board has decided that now is the right time to move to a simplified leadership structure with John singularly leading Tronox.”
Precise information regarding JF Turgeon’s future plans was not immediately available.
Tronox said: “Jean-François Turgeon, Tronox’s co-chief executive officer, will retire from Tronox on April 1, 2024.”
Share price decline since October 2021
The announcement follows a decline in Tronox Holdings Plc’s share price of 57% since October 2021.
In the position of CEO since 2021
JF Turgeon became CEO of the Company in 2021.
The Board of Directors intends to nominate Turgeon for reelection as a Board member at the Company’s Annual General Meeting in May 2024.
Turgeon has been one of the Company’s Co-CEOs and a Director of the Company since March 18, 2021.
Prior to such appointment, Turgeon was Executive Vice President and Chief Operating Officer since September 2017 and was appointed the Company’s interim Co-CEO on December 27, 2020.
Before that he served as the Company’s Executive Vice President and President of Tronox Titanium Dioxide since January 2014.
Prior to joining Tronox, Turgeon worked for Rio Tinto Group for 24 years, serving as the managing director of Rio Tinto’s iron and titanium business.
He is also the former chairman of Richards Bay Mineral in South Africa and Rio Tinto, Fer et Titane, in Canada.
Turgeon holds a Bachelor’s degree in chemical engineering from Université Laval and a Master’s degree in hydrometallurgy from McGill University.
At the time of John Romano’s and JF Turgeon’s appointment as co-chief executive officers at Tronox, Kaufthal had stated: “John and Jean-François have extensive combined leadership and operational experience in the pigment and mining industries, including many years at Tronox. Their demonstrated ability to lead as co-CEOs over the last two and a half months reinforces the Board’s confidence in their ability to continue to successfully execute on the Company’s long-term strategic plan. They possess the right mix of skills and leadership capabilities that led the Board to determine that the co-CEO structure, with John and Jean-François at the helm, is the best path forward for the Company and its stakeholders.”
83 words by JF Turgeon
In the release announcing his departure as CEO of Tronox Holdings Plc, JF Turgeon received praise and thanks.
In announcing his departure, JF Turgeon said 83 words.
“Wish John the best”
JF Turgeon stated: “I am extremely honored to have played a part in Tronox’s transformation and believe the Company has never been better positioned to continue navigating the current environment and generate meaningful value for shareholders. I look forward to the future ahead for Tronox and wish John the best as he takes the helm, having absolute confidence he is the right choice to continue to lead the Company. I would like to thank the Board, John, and my colleagues for an incredible journey at Tronox.”
Push-out Score for JF Turgeon’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that JF Turgeon was pushed out or felt pressure to leave his position.
exechange reached out to Tronox and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 44.2023 ($).