Arch Chemicals COO to leave; shares tumble

NEW YORK (Reuters) - Arch Chemicals Inc (ARJ.N) said on Tuesday its chief operating officer is leaving the company, news that sent shares down more than 7 percent.

Louis S. Massimo, who currently oversees some of Arch's key businesses, will leave to pursue "other opportunities," the company said in a statement.

It was not immediately clear if Massimo had already left the company. An Arch representative was not immediately available for comment.

The COO's responsibilities will be reassigned to other executives, Arch said.

Massimo has been operating chief since May 2007. He was chief financial officer from 1999 until 2007.

Arch makes a wide range of industrial chemicals ranging from food disinfectants, to wood protectors and botanicals for skin care products.

Shares of Norwalk, Connecticut-based Arch fell $2.32, or 7.2 percent, to $29.78 in morning trading. The stock has traded between $15 and $40.83 in the past 52 weeks.

(Reporting by Ernest Scheyder, editing by Dave Zimmerman)