Enviri Corporation CFO Tom Vadaketh Retires, Pete Minan to Succeed
Enviri Corporation (NVRI) announced the retirement of CFO Tom Vadaketh and the planned appointment of Pete Minan as CFO of New Enviri concurrently with the planned spin-off into a standalone publicly traded company. Minan will serve as a consultant to the company as New Enviri prepares for the spin-off. "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," said Enviri Chairman and CEO Nick Grasberger. "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." As previously announced, the spin-off of New Enviri will be effected in connection with the company's sale of Clean Earth to Veolia Environnement SA (VEOEY). The Clean Earth sale remains on track for completion in mid-2026, and Tom Vadaketh will remain CFO of Enviri until the transactions are completed.
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Two Industrial Stocks at Risk of Significant Decline This Quarter
Enviri Corp Overview: Enviri Corp announced a $3.04 billion sale to Veolia and a spin-off of its new business, resulting in a 51% stock gain over the past month, with an RSI of 81.9 indicating overbought conditions.
Costamare Inc Overview: Costamare Inc reported positive quarterly results, leading to a 27% stock increase in the last month, and has an RSI of 81.6, also suggesting overbought status.
Market Performance: Enviri's shares closed at $18.30 after a slight decline, while Costamare's shares rose to $15.82, reflecting positive momentum in their stock prices.
Investment Caution: Both stocks are highlighted as potential warnings for momentum-focused investors due to their high RSI values, indicating they may be overbought.
Halper Sadeh LLC Urges EXAS, NVRI, MRUS Shareholders to Reach Out for Rights Consultation
Investigation of Companies: Halper Sadeh LLC is investigating Exact Sciences Corporation, Enviri Corporation, and Merus N.V. for potential violations of federal securities laws and breaches of fiduciary duties related to their respective sales.
Exact Sciences Sale: Exact Sciences is being sold to Abbott for $105.00 per share in cash, prompting an investigation into the transaction's fairness for shareholders.
Enviri Corporation Sale: Enviri's sale of Clean Earth to Veolia Environnement SA is expected to provide shareholders with cash consideration between $14.50 and $16.50 per share, which is also under scrutiny.
Legal Support for Shareholders: Halper Sadeh LLC offers free consultations to shareholders regarding their legal rights and options, emphasizing that they operate on a contingent fee basis, meaning no upfront legal fees are required.
