WILMINGTON —
Chemours has signaled it is doubling down on its new direction with the addition of a leading technology and data executive to its board.
Last week, Chemours welcomed Joseph Kava to the board of directors who is the vice president of data centers at
Google. With a seat at the table, Kava will lend his decades of experience in data centers and semiconductors as Chemours plans to focus on those two sectors as part of its latest growth strategy.
Some of his role at Google involves leading the teams responsible for things such as site selection, power purchasing, research and hardware operations. A member of the goliath tech company since 2008, Kava is reported in trade publications as a staunch advocate for building sustainable data centers and implementing Google’s cloud computing strategy.
“The addition of Joe with his deep and broad range of skills and experience in technology, most recently in data centers and semiconductors, will further enhance the execution of Chemours’ business strategy,” Chemours Board Chair Dawn Farrell said in a prepared statement.
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Google Vice President, Data Centers Joe Kava | PHOTO COURTESY OF CHEMOURS[/caption]
Outside of his time at Google, Kava also served as a chief operating officer at RagingWire Enterprise Solutions, a provider of enterprise-grade data center solutions and connectivity services. He also spent 17 years in the semiconductor industry at LSI Logic and Applied Materials, a global leader in materials engineering solutions for semiconductors, flat panel display and photovoltaic industries. He held both technical and executive roles.
As Chemours enters its
second year under its CEO Denise Dignam, it is also adjusting its corporate strategy to focus more on growth markets to reach a target revenue of 5% growth by 2027, barring any major macroeconomic events during that time.
The strategic plan called “Pathway to Thrive” was unveiled by Dignam in the 2024 third quarter earnings call and it would
de-emphasize Chemours’ investments in hydrogen and concentrate more on data center cooling, next generation refrigerants and semiconductor fabrication.
Two examples of these potential growth markets include the Teflon PFA resins that can be used in coating semiconductor materials and Opteon 2P50, a manufactured cooling liquid that can reduce energy consumption by submerging the equipment.
Chemours representatives told the Delaware Business Times that Kava’s appointment to the board aligns with the new strategy and they expect his years of tech industry knowledge and experience to be valuable.
“Joe’s proven track record in technology, sustainability, innovation, operations, and new product introductions are valuable areas of expertise for Chemours as we continue to aggressively advance the Enabling Growth pillar of our Pathway to Thrive business strategy,” Dignam said in a prepared statement. “Many of our products are critical to artificial intelligence and high-performance computing, most notably in data center cooling, where Joe has tremendous knowledge and experience.”
The news of Kava’s appointment was also welcomed by investors – Chemours’ stock rose by 10% in the day after the news. BMO Capital analyst
John McNulty wrote that he saw Kava’s involvement at Chemours’ board as a significant step in the data center industry.
“Mr. Kava will bring a wealth of data center experience and knowledge to CC and help them navigate this fast-moving industry with the hyperscalers,” McNulty wrote to investors.