Enviri Corporation announced that Chief Financial Officer Tom Vadaketh will retire after the Clean Earth sale and New Enviri spin‑off are completed, and that former Enviri CFO Pete Minan will assume the CFO role for the newly formed New Enviri.
Vadaketh, who joined Enviri in October 2023 after serving as interim CFO from August 2022 to October 2023, will remain in the CFO position until the transaction closes. Minan, who led Enviri’s finance function from 2014 to 2021 and returned in an interim capacity in 2022, will serve as a consultant while New Enviri is structured.
The change comes as Enviri continues its strategic alternatives process that began in August 2025, which culminated in the sale of Clean Earth to Veolia Environnement SA for $3.04 billion. The transaction is on track to close in mid‑2026, after which New Enviri will comprise the Harsco Environmental and Rail businesses and become a standalone public company.
Chairman and CEO Nick Grasberger said the company is grateful for Vadaketh’s leadership, noting that he “has brought strength to the finance function and guided Enviri through a successful strategic alternatives initiative.” President and COO Russell Hochman welcomed Minan, adding that “Pete’s financial acumen, deep understanding of our businesses, and strategic mindset make him the ideal financial leader for New Enviri.”
Minan expressed enthusiasm for the transition, stating, “I am eager to hit the ground running and look forward to partnering with Russell and the leadership team to ensure a successful and seamless separation and to create value for our New Enviri shareholders.”
Enviri’s Q4 2023 results showed revenue growth and an increase in Adjusted EBITDA compared to the same period last year, underscoring the company’s ability to generate value even as it restructures its portfolio.
The CFO transition signals continuity and confidence as Enviri moves toward unlocking shareholder value through the sum‑of‑parts valuation, with the Clean Earth sale and New Enviri spin‑off expected to create two focused, high‑growth entities.
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