Publications
Publications
- January 2020 (Revised July 2020)
- HBS Case Collection
Chemours (A)
By: David G. Fubini and David Lane
Abstract
The July 2015 spin-off of DuPont’s performance chemicals division as the independent company Chemours burdened new CEO Mark Vergnano and his team with perilous challenges. Despite market-leading offerings in several areas, the company faced a glutted market for its primary product, even after its prices had fallen 40% since 2012. The company also owed $4 billion in long-term debt, equivalent to 10 times 2014 earnings. Not least, DuPont had made Chemours financially responsible for chemical contamination at 171 U.S. sites, representing 62% of DuPont’s environmental liabilities and 90% of its litigation by number of pending cases. Within six months, Chemours shares had lost 80% of their value.
Keywords
Transformation; Chemicals; Leading Change; Crisis Management; Organizational Change and Adaptation; Chemical Industry; United States
Citation
Fubini, David G., and David Lane. "Chemours (A)." Harvard Business School Case 420-001, January 2020. (Revised July 2020.)