Koppers Navigates Leadership Transition as CFO Jimmi Sue Smith Retires

PITTSBURGH, PA – January 09, 2026 – Koppers Holdings Inc. (NYSE: KOP), a global provider of treated wood products and carbon compounds critical to infrastructure, announced a significant change in its financial leadership. Jimmi Sue Smith, the company’s Chief Financial Officer, retired from her position effective January 5, 2026. In a move signaling a focus on stability, the company's Board of Directors has elected Bradley Pearce, a long-time company veteran and its current Chief Accounting Officer, to serve as interim CFO and Chief Accounting Officer.

This transition comes at a pivotal time for Koppers as it executes a company-wide transformation plan amidst a challenging economic environment. While the company initiates an external search for a permanent successor, the appointment of an internal leader underscores a strategy of ensuring continuity. Ms. Smith will remain with Koppers as Treasurer and in an advisory capacity through February 28, 2026, to facilitate a smooth handover.

A Legacy of Financial Fortitude

Jimmi Sue Smith’s tenure, which began when she was promoted to CFO in January 2022 after joining the company just before the pandemic, is widely regarded as a period of significant financial strengthening for Koppers. She is credited with navigating the company through turbulent economic waters while systematically improving its capital structure and balance sheet.

In a statement, Chief Executive Officer Leroy Ball praised her impact, noting it “will continue to be felt long after her departure.” He highlighted her critical role in helping the company remain on solid footing during the pandemic. “In addition to successfully optimizing the company's capital structure, she also spearheaded the effort to increase our emphasis on free cash flow improvement, resulting in more dollars being returned to shareholders in the last two years than at any point in company history,” Ball stated.

Among her most notable achievements was guiding the team to secure a 7-year, $400 million senior secured Term Loan B. This strategic financing was subsequently refinanced and upsized, allowing Koppers to redeem higher-cost notes and significantly extend its debt maturity profile. Furthermore, Ms. Smith oversaw the extension of the company’s $800 million revolving credit facility maturity date to 2030, a move that lowered borrowing costs and provided Koppers with enhanced financial flexibility and a stronger capital position. These initiatives were part of her broader contribution to Koppers' enterprise-wide transformation process, known as Catalyst, which has driven meaningful cost savings across the organization.

“It has been an honor to serve as Koppers CFO, to be part of such a storied company and to work alongside such an amazing group of people,” said Ms. Smith. “I am immensely proud of everything the finance team has accomplished during my time at Koppers, including modernizing and improving our capital structure, upgrading our financial systems, and most importantly, reorganizing our work to better develop our talent and improve efficiency.”

Continuity and Stability with an Insider

Bradley Pearce’s appointment as interim CFO provides Koppers with a leader possessing deep institutional knowledge. Having joined the company in 2006 and serving as Chief Accounting Officer since May 2019, Pearce has been intimately involved in the company’s financial operations for nearly two decades. His responsibilities have included overseeing Koppers' global accounting, tax, and external reporting functions.

His long tenure and integral role in key strategic initiatives are seen as critical assets during this transition. Mr. Pearce has been a key figure in the company’s Catalyst transformation program, specifically contributing to its cost-discipline measures. His leadership is expected to ensure that the momentum of these critical financial programs continues uninterrupted while the search for a permanent CFO is underway. Prior to his time at Koppers, Pearce held finance and treasury-related roles in the private sector and worked with U.S. multinational companies during his time in public accounting. The Board's confidence in his ability to steer the financial department is reflected in an adjusted compensation package effective at the start of the year.

Navigating a Shifting Financial Landscape

This leadership transition occurs as Koppers navigates a complex market. The company’s third-quarter 2025 financial results saw a shortfall in both earnings and revenue expectations, reflecting continued reductions in demand in certain sectors. In response, Koppers tightened its 2025 financial forecast, with projected adjusted EBITDA of approximately $255 million to $260 million.

Despite these headwinds, the company's financial health shows underlying signs of strength. Operating cash flow for the first nine months of 2025 increased to $77.4 million from $44.7 million in the prior-year period. Koppers also maintains a healthy current ratio of 2.64, indicating strong liquidity to cover its short-term obligations. This financial stability is further underscored by the Board's decision in November 2025 to approve another quarterly dividend increase, marking the fourth consecutive year of dividend growth and reinforcing a commitment to shareholder returns.

Analysts note that while the company's debt level remains a key metric to watch, the strategic financing initiatives led by Ms. Smith have put Koppers on much more stable footing with a manageable, long-term debt maturity profile. The focus for investors and analysts alike is now on the company’s ability to execute its operational plans and navigate the cyclicality inherent in its core markets.

Market Perspective and Strategic Outlook

The market has reacted calmly to the CFO change, with Koppers' stock showing resilience on the day of the announcement. Analysts largely view the transition as an orderly and well-managed event, a perception reinforced by the company's explicit statement that Ms. Smith’s retirement was not the result of any disagreement over financial statements or operations. This transparency, combined with the seamless interim appointment and Ms. Smith’s continued advisory role, has helped maintain investor confidence.

The consensus among market observers is that the transition is a sign of a mature succession plan. The appointment of an internal veteran like Pearce minimizes disruption, while the external search for a permanent successor aligns with industry best practices for bringing in fresh perspectives to guide long-term strategy. The investment community’s focus remains less on the executive change and more on the execution of the Catalyst transformation program and Koppers' ability to deliver on its revised financial targets. As the company moves forward, it does so with a clear transition plan, leveraging deep internal expertise for immediate stability while strategically planning for its next phase of financial leadership.