Olin CEO Scott Sutton To Step Down: What's Next For The Ammunition Maker?
Portfolio Pulse from Shivani Kumaresan
Olin Corp's CEO, Scott Sutton, will step down from his roles as President, CEO, and Chairman of the Board in the first half of 2024. Sutton has led a strategic transformation of Olin since 2020. The company reported a 34.9% YoY decrease in Q2 FY23 revenue to $1.7 billion, missing the consensus of $1.86 billion. Olin expects Q3 2023 adjusted EBITDA to be approximately 10% lower than Q2 2023 levels due to the difficult global economic environment and operating issues at its Texas facility.

September 01, 2023 | 4:26 pm
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Olin Corp's CEO, Scott Sutton, will step down in 2024. The company reported a 34.9% YoY decrease in Q2 FY23 revenue and expects Q3 2023 EBITDA to be 10% lower than Q2 2023.
The announcement of CEO Scott Sutton's departure in 2024 may create uncertainty about the company's future leadership. Additionally, the company's lower-than-expected Q2 FY23 revenue and projected decrease in Q3 2023 EBITDA due to global economic conditions and operational issues could negatively impact the stock price in the short term.
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