Fairmount Santrol announced that Christopher L. Nagel will leave his position as chief financial officer and executive vice president of finance effective Oct. 20, 2015, in order to pursue an opportunity in the consumer products industry. Nagel's departure is not the result of any dispute or disagreement with the company or any matter relating to the company's accounting practices or financial statements, it said in a statement.
"Since joining Fairmount Santrol as CFO in 2011, Chris has been instrumental in building a best-in-class financial organization that helped prepare us for last year's initial public offering and will continue to support our needs as a public company," said Jenniffer Deckard, Fairmount Santrol president and chief executive officer. "We thank Chris for his contributions to the ongoing success of our company, and we wish him a very successful future."
She continued, "We remain confident in our experienced management team and in the continued execution of our strategy."
Fairmount Santrol has engaged an executive search firm to assist in finding a successor and will begin meeting with qualified candidates as soon as possible. Within the next few weeks, the company expects to designate an interim CFO who will work closely with Nagel to assure an orderly transition of his responsibilities.
Nagel said, "I am very grateful for my time at Fairmount Santrol and the opportunity to work with such a strong management team and incredible organization. We have accomplished much as a team, including the completion of our IPO last year and the related enhancements to our systems and processes. I am committed to helping the company ensure a smooth transition of CFO responsibilities over the next month."