Enviri Corporation Announces CFO Transition: Tom Vadaketh to Retire, Pete Minan Appointed as New CFO
Philadelphia, PA - January 5, 2026 (GLOBE NEWSWIRE) - Enviri Corporation (NYSE: NVRI) has announced the retirement of Chief Financial Officer (CFO) Tom Vadaketh, following the anticipated sale of Clean Earth and the spin-off of New Enviri. The company's plans include appointing Pete Minan as the new CFO concurrently with the spin-off, slated to create a standalone publicly traded entity.
Implications of the CFO Transition
Tom Vadaketh's leadership has been instrumental during a crucial phase for Enviri, particularly throughout its strategic alternatives initiative. He will continue to serve as CFO until the completion of the Clean Earth sale, expected in mid-2026. Enviri Chairman and CEO Nick Grasberger emphasized the significant contributions Vadaketh has made in enhancing the finance function of the organization.
- Tom Vadaketh's Contributions: Established a legacy of financial discipline and professional development.
- Future Leadership: Pete Minan brings extensive finance experience and a deep understanding of Enviri's operations.
Introducing Pete Minan: Enviri's New CFO
Pete Minan previously served as CFO of Harsco Corporation for seven years before his retirement in October 2021 and returned to Enviri in August 2022. He possesses a strong financial acumen that positions him well to lead New Enviri during its transition. Russell Hochman, Enviri’s President and COO, expressed confidence in Minan’s strategic capabilities, highlighting the significant opportunity for Harsco Environmental and Rail to drive enhanced financial performance.
Minan stated, “I am eager to hit the ground running... to create value for our New Enviri shareholders.” This emphasis on driving sustainable growth is crucial as New Enviri assumes its independent status.
Future Developments and Company Overview
Enviri is set to file a Form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) for New Enviri, as part of the spin-off process, which remains subject to customary closing conditions. Additional leadership team members and board of directors for New Enviri will be announced in due course.
Enviri is a global leader in providing a vast range of environmental services, encompassing over 150 locations across more than 30 countries. The company's mission is focused on offering innovative solutions to assist clients in addressing complex environmental challenges and achieving sustainability goals.
About Enviri and Pete Minan
Enviri Corporation (NYSE: NVRI) is committed to transforming the world through its environmental services, helping a diverse customer base recycle and reuse materials efficiently. This commitment underlines its purpose and role in sustainable development.
Pete Minan has a robust background in financial management, including nearly 30 years as a Senior Partner at KPMG. His prior experience as adjunct Professor of Finance at Drexel University complements his comprehensive expertise in finance, making him a valuable asset for New Enviri.
Important Information for Investors
As the Clean Earth sale and New Enviri spin-off progress, Enviri will file necessary documentation with the SEC, including proxy statements and registration statements. Shareholders are encouraged to review these materials when they become available, as they will contain vital information regarding the transaction.
For further updates, investors can access the SEC's website at www.sec.gov or visit Enviri’s official site at www.enviri.com.