Newmarket Corp 8-K, filed Oct 3, 2024
Newmarket Corp (NEU)
About this 8-K
Newmarket Corp filed this 8-K on October 3, 2024, reporting on events of October 1, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
NewMarket Corporation (NYSE: NEU) (the “Company”) announced today that William J. Skrobacz will step down as Vice President and Chief Financial Officer of the Company effective December 31, 2024, as he intends to retire from the Company in 2025. Since joining the Company over 13 years ago, Mr. Skrobacz has served in a variety of finance and accounting roles of increasing responsibility, culminating in his appointment as Vice President and Chief Financial Officer in 2023. Prior to becoming Vice President and Chief Financial Officer, Mr. Skrobacz’s roles included: Senior Manager - Business Assurance, Controller Designate and Principal Accounting Officer and Controller.
The Company also announced that, effective January 1, 2025, Timothy K. Fitzgerald will succeed Mr. Skrobacz as Vice President and Chief Financial Officer of the Company. Mr. Fitzgerald, age 47, joined the Company approximately 10 years ago as Operations Finance Director, and he has over 20 years of finance and accounting experience. He served as Operations Finance Director until he was appointed as the Company’s Treasurer and Finance Director in January of 2024.
Also on October 3, 2024, the Company announced that Gail C. Ridgeway has been appointed Treasurer, effective January 1, 2025. Mrs. Ridgeway, age 50, replaces Mr. Fitzgerald as Treasurer. Mrs. Ridgeway has over 25 years of accounting, tax and finance experience. Mrs. Ridgeway joined the Company in 2011 as Tax Compliance Manager, became Tax Director in 2017, and became Assistant Controller in 2021. She was subsequently promoted to Principal Accounting Officer and Controller in 2023.
Also on October 3, 2024, the Company announced that Ann P. Pietrantoni has been appointed to succeed Mrs. Ridgeway as Principal Accounting Officer and Controller, effective January 1, 2025. Mrs. Pietrantoni, age 45, has over 20 years of accounting, tax and finance experience. Mrs. Pietrantoni joined the Company in 2022 as Accounting Director, and was promoted to Assistant Controller in 2023. Prior to joining the Company, Mrs. Pietrantoni served as Financial Reporting Director at Circuit City from 2002 to 2017, and as Senior Accounting Manager at Capital One from 2018 to 2022.
On October 3, 2024, the Company issued a press release announcing certain of the events described above. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. As of the date of this report, no compensation determinations have been made related to the appointments of Mr. Fitzgerald, Mrs. Ridgeway and Mrs. Pietrantoni discussed above.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 | Press Release issued by the Company on October 1, 2024 | |
| 104 | Cover Page Interactive Data File (Embedded within the inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 3, 2024
| NEWMARKET CORPORATION | ||
| By: | /s/ William J. Skrobacz | |
| Name: | William J. Skrobacz | |
| Title: | VP & CFO | |
Exhibit 99.1
NEWMARKET ANNOUNCES THE RETIREMENT OF ITS VICE PRESIDENT AND CHIEF FINANCIAL OFFICER AND THE APPOINTMENT OF SUCCESSOR
Richmond, VA, October 1, 2024 – NewMarket Corporation (NYSE: NEU) (the “Company”) announced today that William J. Skrobacz is stepping down from his role as Vice President and Chief Financial Officer of the Company effective December 31, 2024, as he intends to retire from the Company in 2025. Since joining the Company over 13 years ago, Mr. Skrobacz has served in a variety of finance and accounting roles of increasing responsibility, culminating in his appointment as Vice President and Chief Financial Officer in January 2023. Prior to becoming Vice President and Chief Financial Officer, Mr. Skrobacz’s roles included: Senior Manager, Business Assurance, Controller Designate and Principal Accounting Officer and Controller.
Teddy Gottwald, President & CEO of NewMarket, thanked Mr. Skrobacz for his many years of dedicated service: “Bill has been a great member of our leadership team, and he has excelled in every role he has had at NewMarket. He helped to build and lead our finance and accounting organization. I am grateful to Bill for all his good work managing our balance sheet during challenging times. He has provided calm, steady leadership throughout his tenure at NewMarket.”
Mr. Gottwald continued, “the entire NewMarket family of companies are fortunate to have had Bill’s dedicated leadership for these many years.”
The Company also announced that Timothy K. Fitzgerald will succeed Mr. Skrobacz as Vice President and Chief Financial Officer, effective January 1, 2025. Mr. Fitzgerald, age 47, joined the Company approximately 10 years ago as Operations Finance Director, and he has over 20 years of finance and accounting experience. He was appointed as the Company’s Treasurer and Finance Director in January of 2024.
Mr. Gottwald commented, “I am extremely excited about Tim stepping into the CFO role. Throughout his time with our Company, Tim has focused on building teams, developing people, and solid financial planning and analysis. He has a strong financial background, is thorough and well-equipped to lead us into the future. We can look forward to our continued success under his direction.”
NewMarket Corporation is a holding company operating through its subsidiaries Afton Chemical Corporation (Afton), Ethyl Corporation (Ethyl), and American Pacific Corporation (AMPAC). The Afton and Ethyl companies develop, manufacture, blend, and deliver chemical additives that enhance the performance of petroleum products. AMPAC is a manufacturer of specialty materials primarily used in solid rocket motors for the aerospace and defense industries. The NewMarket family of companies has a long-term commitment to its people, to safety, to providing innovative solutions for its customers, and to making the world a better place.
FOR INVESTOR INFORMATION CONTACT:
William J. Skrobacz
Investor Relations
Phone: 804.788.5555
Fax: 804.788.5688
Email: investorrelations@newmarket.com