Enviri chief financial officer to retire at the completion of Clean Earth deal

Enviri Corporation intends to make two personnel moves in conjunction with the scheduled completion of two major transactions.

The firm plans to spinoff its Harsco Environmental and Rail businesses to shareholders of Enviri, which is scheduled to occur at the same time as the divestment of its Clean Earth subsidiary to Veolia Environnement SA.

Both deals are expected to close in mid-2026. At that time, Enviri Chief Financial Officer Tom Vadaketh will retire and Enviri will appoint Pete Minan as chief financial officer of the spinoff company. Minan will serve as a consultant as New Enviri prepares for the spinoff.

“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,” Enviri Chairman and CEO Nick Grasberger says. “Tom is guiding the company through a time of significant change, providing steady leadership, technical expertise and disciplined financial stewardship. He has positioned the company well for its next chapter and we wish him well in his retirement.”

Additional members of New Enviri’s leadership team along with its board of directors will be announced at a later date. Enviri says it expects to file a Form 10 registration statement for New Enviri with the U.S. Securities and Exchange Commission in connection with the spinoff, which remains subject to satisfaction of customary closing conditions.

“I am pleased to welcome Pete back as the CFO of New Enviri as we position Harsco Environmental and Rail for success and build a company that creates value for shareholders and customers,” says Russell Hochman, Enviri president and chief operating officer and CEO designate of New Enviri. “Pete’s financial acumen, deep understanding of our businesses, and strategic mindset make him the ideal financial leader for New Enviri.”