By Elias Schisgall

Shares of Ingevity were higher after the chemicals company said it was exploring strategic alternatives for two of its business units, including a possible sale, and announced a set of leadership transitions.

Shares were up 7.2% at $57.84. The stock has risen 42% this year.

The company said Tuesday that it has completed a portfolio review and was looking at options for its Advanced Polymer Technologies segment and its Performance Chemicals Road Marking business, including a potential divestment.

"We have determined that our APT segment and Road Markings business are not fully aligned with Ingevity's core competencies nor its future strategic direction, which focuses on consistency, best-in-class margins and superior cash flow generation," Chief Executive Officer Dave Li said.

The company also said Phillip Platt would take over as chief financial officer effective May 1. Platt will succeed Mary Dean Hall, who started as CFO in 2021.

Rich White, currently president of the Performance Chemicals division, will move to a special projects role beginning in January before leaving the company in May, Ingevity said. And Reid Clontz, most recently vice president of global operations, was promoted to senior vice president for operations, effective immediately, the company said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 09, 2025 11:23 ET (16:23 GMT)

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