Chemours (CC) - Get Report  is promoting its chief operating officer Mark Newman to a newly created position of chief operating officer, said the chemical company Tuesday.

As the company's COO, Newman will be responsible for Chemours' Titanium Technologies, Fluoroproducts and Chemical Solutions businesses. He will report to chief executive Mark Vergnano.

Another Chemours' executive, Sameer Ralhan, vice president of business finance and treasurer, will take on the CFO job.

Newman joined Chemours in 2014, before it was spun off from DuPont, which later merged with Dow, and became chief financial officer the following year. 

"Mark is a talented and trusted leader," said Vergnano, in a statement, crediting him with the company's "successful" transition during the spin-off.

Ralhan also joined the company in 2014

"Chemours is committed to developing top talent like Sameer, and we are excited to move him into the role of CFO," said Vergnano. "His contributions over our first four years clearly demonstrate that we are in good hands and that as CFO he will continue to drive the acceleration of our growth plans and the creation of long-term shareholder value."

Chemours -- a company of 7,000 employees -- specializes in titanium technologies, fluoroproducts and other chemicals and chemistry-based technology that are used in the making of plastics, coatings, refrigeration and air conditioning equipment, mining and industrial manufacturing. 

Chemours closed up 5.05% on the New York Stock Exchange to $23.07 on Tuesday.

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