Ingevity Corporation filed its definitive proxy statement with the U.S. Securities and Exchange Commission on March 20, 2025, in connection with its 2025 Annual Meeting of Stockholders scheduled for April 30, 2025. The Board of Directors recommended stockholders vote 'FOR' its nine highly qualified director nominees, including Jean S. Blackwell, Luis Fernandez-Moreno, and newly appointed J. Kevin Willis.
The company urged stockholders to vote 'FOR' only Ingevity’s nominees on the WHITE proxy card and to disregard any gold proxy card from Vision One Fund, LP. The Board stated that Vision One's nominees lacked relevant sector or public company executive experience and did not possess meaningful operational or capital allocation expertise in public company operating roles.
Ingevity highlighted its strategic transformation, including the repositioning of its Performance Chemicals segment, which contributed to $84 million in cost savings in 2024. The company projects 10-14% adjusted EBITDA growth for 2025, free cash flow approximately 4-5 times its 2024 level, and a reduction of its net debt ratio to less than 2.8x by year-end 2024.
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