Jeffry N. Quinn, chairman and CEO of Stamford-based Tronox, has taken a leave of absence after being referenced in two insider trading complaints.
Quinn requested the leave after learning of a U.S. Securities and Exchange Commission civil complaint as well as a related criminal complaint on alleged insider trading, according to a statement issued by Tronox, which makes titanium dioxide pigment.
The defendant in both complaints tied Quinn to potentially problematic transactions in February and March 2016 involving shares of Ferro Corp., where Quinn served as a director from May 2013 through August 2016.
Quinn was named president and CEO at Tronox in December 2017 and was appointed chairman of the board in March 2019. The company added that its shares were not referenced in the complaints involving Quinn.
During his absence, QuinnӪs CEO position and duties will be shared on an interim basis by John D. Romano, executive vice president, chief commercial and strategy officer, and Jean-Fran̤ois Turgeon, executive vice president and chief operating officer. Ilan Kaufthal, the lead independent director, has been elected chairman of the board on an interim basis.
