Quaker Chemical Corporation Announces Departure of Chief Executive Officer

On December 5, 2024, Quaker Chemical Corporation (NYSE:KWR) reported in a Form 8-K filing with the Securities and Exchange Commission that Andrew E. Tometich has departed from his role as the company’s Chief Executive Officer and President, as well as from the Board. This departure, effective November 18, 2024, was noted to be unrelated to any disagreements between Tometich and the company.

Following his departure, Quaker Chemical Corporation and Mr. Tometich have entered into a Separation Agreement and General Release on December 5, 2024. As per the agreement, Mr. Tometich will receive severance payments and benefits outlined in the company’s previous Form 8-K filing dated November 20, 2024, and detailed in the proxy statement filed on March 28, 2024, with some modifications.

In addition to the aforementioned benefits, the Separation Agreement includes provisions for accelerated and prorated vesting of any outstanding Stock Options, Restricted Stock Units, Performance Stock Units (PSUs), and Restricted Stock under the Quaker Chemical Corporation 2016 Long-Term Incentive Plan. Performance Program Targets and performance-based awards will be measured at the end of their respective periods and paid out accordingly.

It is worth noting that the above is a summary of the Separation Agreement and may not encompass all of its terms and conditions. Interested parties are advised to refer to the complete text of the document, which is filed as an exhibit to the Current Report on Form 8-K.

In compliance with Item 9.01 of the filing requirements, Quaker Chemical Corporation disclosed the inclusion of the Separation Agreement and General Release as Exhibit 10.1 in the Current Report on Form 8-K, along with a Cover Page Interactive Data File embedded within the Inline XBRL document as Exhibit 104.

This report is dated December 11, 2024, and was signed by Robert T. Traub, Senior Vice President, General Counsel, and Corporate Secretary on behalf of Quaker Chemical Corporation.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Quaker Chemical’s 8K filing here.

Quaker Chemical Company Profile

Quaker Chemical Corporation, together with its subsidiaries, develops, produces, and markets various formulated specialty chemical products for a range of heavy industrial and manufacturing applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die-cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals.