April 25 (Reuters) - Chemours ( CC ) said on Thursday
its chief financial officer, Jonathan Lock, had resigned on
April 23 after the chemical firm revised certain past financial
results following an internal review.
Earlier this year, the internal review showed manipulation
by some of its senior management to meet free cash flow targets
tied to their incentives, resulting in its top three executives,
including Lock and CEO Mark Newman, being placed on
administrative leave.
The review had identified "material weaknesses" in the
company's internal control over financial reporting and resulted
in revisions of its balance sheet as of Dec. 31, 2022 and its
cash flow statements for 2021 and 2022.
Chemours ( CC ) said on Thursday Lock would not be entitled to
severance, 2023 or 2024 annual cash incentive award and
separation benefits.