Philadelphia-based Enviri Corp., an environmental services and related solutions company, recently announced Chief Financial Officer Tom Vadaketh will retire.
“We are grateful for Tom’s impact on the organization and the strength he has brought to our finance function, especially throughout our successful strategic alternatives initiative,” Nick Grasberger, Enviri chairman and CEO, said. “Tom is guiding the company through a time of significant change, providing steady leadership, technical expertise, and disciplined financial stewardship, and leaving a legacy of financial discipline, increased engagement, and professional development for our finance team. He has positioned the company well for its next chapter, and we wish him well in his retirement.”
The company plans to appoint Pete Minan as chief financial officer of New Enviri, a spin-off company that will be a standalone publicly traded company. While the company prepares for the spin-off, he will serve as a consultant.
Minan previous worked at Enviri as CFO from August 2022 to October 2023, overseeing the company’s global financial strategy. He rejoins the company after serving as an adjunct professor of finance at Drexel University.
New Enviri is connected with the company’s sale of Clean Earth to Veolia Environnement SA. The sale will be completed mid-year, and Vadaketh will remain CFO until both transactions are completed.