Stock Monitor: Sociedad Quimica y Minera de Chile Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free research report on FMC Corp. (NYSE: FMC). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FMC as the Company's latest news hit the wire. On March 09, 2018, the Company announced that it has appointed Paul Graves, Executive Vice President and Chief Financial Officer (CFO) of FMC, as Chief Executive Officer (CEO) for the previously announced new, publicly-traded lithium materials company. The new company will be created by separating FMC's lithium business in the second half of 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Other Executive Appointments
Gilberto Antoniazzi, CFO of FMC Agricultural Solutions, is appointed CFO for the new lithium materials company. Pierre Brondeau will serve as Chairman of the Board of the new company. Brondeau will continue to lead FMC as President, CEO, and Chairman.
Also, Tom Schneberger, Vice President and Global Business Director of FMC Lithium, is named Chief Operating Officer (COO) for the new company. Andrew Sandifer is appointed CFO and Treasurer for FMC. All new appointments will be effective as from May 15, 2018.
FMC's Lithium Business IPO Expected in H2 2018
Pierre Brondeau stated that preparations to separate FMC's lithium business are progressing very well, with an expected IPO in the second half of 2018. Brondeau mentioned that it is important that the Company has a strong executive team in place, well in advance of the IPO.
Paul Graves' Career History
Paul Graves was named Executive Vice President and CFO in October 2012. He brings more than 19 years of international banking and accounting experience, with a specialized focus on chemicals and agriculture. Graves previously served as Managing Director and Partner in the Investment Banking Division, Goldman Sachs Group in Hong Kong. Also for Goldman Sachs, he served as Global Head of Agricultural Investment Banking and Global Head of Chemical Investment Banking. Graves joined Goldman Sachs in its London office in 2000, and became a Partner in 2008. He previously held finance and auditing roles of increasing responsibility at Ernst & Young, British Sky Broadcasting Group, ING Barings, and J. Henry Schroder & Co. Graves earned his Bachelor of Arts in Accounting and Finance from Nottingham Trent University in 1993, and qualified as a Chartered Accountant (ACA) with Ernst & Young.
Professional Experiences of Other Executives
Pierre Brondeau joined FMC in January 2010, as President and CEO, and was named Chairman of the Board in October 2010. Brondeau previously served as President and CEO of Dow Advanced Materials until September 2009. Prior to Dow Advanced Materials, he was President and COO of Rohm and Haas Co. Before joining Rohm and Haas, Brondeau spent six years at Air Liquide in Paris and Chicago.
Tom Schneberger was named Vice President and Global Business Director for FMC Lithium in November 2014. He was previously Vice President and Global Business Director for Alkali Chemicals. Prior to joining FMC, Tom held leadership positions at General Chemical and Rhodia in engineering, manufacturing, process safety, business development, and sales and marketing.
Andrew Sandifer is a 25-year industry veteran with extensive experience in strategic planning, investor relations, treasury, M&A, and commercial management. Prior to joining FMC in 2010, he held various business and finance leadership roles at ARAMARK, The Dow Chemical Co, Rohm and Haas Co., and the Boston Consulting Group.
Gilberto Antoniazzi has served in senior finance roles in the US, Latin America, and Europe during his 25-year FMC career. Antoniazzi worked across most disciplines in Finance, including financial planning, analysis, accounting, and tax.
Lithium Business Spinoff
FMC has planned to conduct a separate listing of FMC Lithium in the second half of 2018, and to create two separate public companies. The Company expects that the separation will take the form of a tax-free distribution of shares to existing FMC's shareholders. In January 2018, FMC revised its operating agreements in Argentina, allowing it to expand production and completing an important step towards the intended separation of its lithium business.
About FMC Corp.
Founded in 1884 and headquartered in Philadelphia, Pennsylvania, FMC is a diversified chemical Company, providing solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The Company operates through two segments, namely (i) FMC Agricultural Solutions, and (ii) FMC Lithium.
Stock Performance Snapshot
March 12, 2018 - At Monday's closing bell, FMC's stock marginally climbed 0.39%, ending the trading session at $83.88.
Volume traded for the day: 1.29 million shares.
Stock performance in the last month – up 3.72%; and past twelve-month period – up 39.68%
After yesterday's close, FMC's market cap was at $11.28 billion.
Price to Earnings (P/E) ratio was at 49.25.
The stock has a dividend yield of 0.79%.
The stock is part of the Basic Materials sector, categorized under the Chemicals - Major Diversified industry. This sector was up 0.1% at the end of the session.
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