A little more than a year after taking the position, the chief financial officer of titanium dioxide maker Tronox (NYSE:TROX) has resigned from the company citing what the company calls "personal reasons." The company on Wednesday announced it would immediately begin a search for a replacement. It expects to name a successor by the second quarter of 2013.
Daniel Greenwell served as both senior vice president and CFO and assumed the post in January 2012. Prior to that, he had been pursuing personal interests, according to company filings, though before that he had been the CFO of Terra Industries for three years until it was acquired by CF Industries.
His separation from Tronox will be effective March 31. According to an SEC filing, Greenwell will receive a lump sum cash payment equal to $1,338,750 and immediate accelerated vesting of 25,208 shares of restricted stock and 11,167 options. He and the company entered into a separation agreement on Feb. 9.