Ingevity (NGVT) said Monday it is exploring strategic alternatives, including a potential sale, for its advanced polymer technologies segment and performance chemicals road markings business.

Following a portfolio review process, he company's leadership team and board have determined that the two businesses are not fully aligned with Ingevity's core competencies or future strategic direction, Dave Li, president and CEO of Ingevity, said.

Separately, the company said Monday that Chief Financial Officer Mary Dean Hall will step down and be succeeded by Chief Accounting Officer Phillip J. Platt, effective May 1, 2026. Hall will remain in an advisory role for one year.

Rich White, Senior Vice President and President of Performance Chemicals, will move to a special projects role on Jan. 1 and leave the company on May 1, the company added.

Ingevity also appointed Reid Clontz as Senior Vice President, Operations, effective Dec. 8. Clontz, previously Vice President, Global Operations, will oversee operations across multiple manufacturing sites, including supply chain, procurement and safety functions, Ingevity said.