Aleris board of directors appoints Sean Stack as Chief Executive Officer

Aleris announced today that its board of directors has appointed Sean Stack to the position of chief executive officer. Stack most recently served as executive vice president and CEO, Aleris North America. With his appointment, Stack was also elected to the Aleris Board of Directors. Scott Graves, Aleris director and managing director and Head of Credit Strategies for Oaktree Capital Management, L.P. has been elected non-executive chairman of the Aleris Board. A fund managed by Oaktree is a majority shareholder of Aleris. Both appointments will take effect immediately.

Steve Demetriou, who has served as chairman and chief executive officer since the company's inception in 2004 has made the decision to leave Aleris to pursue a new leadership opportunity. Demetriou will work closely with Stack over the next few weeks to ensure a smooth transition. "Over the past several years, Sean Stack has played an integral role in the development and implementation of the Aleris growth strategy, which has involved expanding the company's rolled products capacity in North America, Europe, and Asia Pacific to meet the growth in demand from key industries including automotive, aerospace, and building and construction," Graves said. "Sean is a talented and well-rounded executive who also has a deep understanding of Aleris and the industry, which will enable the company to sustain its current momentum. We are confident that Sean will lead Aleris to continued success."

Stack has been with Aleris since its formation in 2004 and in addition to his most recent role leading Aleris North America; he has held a number of executive leadership roles with the company, including chief financial officer, executive vice president, Corporate Development and Strategy, and executive vice president and president, Aleris Europe, senior vice president, Treasurer. Prior to joining Aleris, he held financial leadership positions at Noveon, Specialty Foods, and worked as an investment banker at ABN AMRO. He holds a Masters in Management from the Kellogg School of Management, and a Bachelors in Business Administration from the University of Notre Dame.

"With the support of the Board of Directors and all of our Aleris employees, we have built a great company with a dynamic culture, exceptional customers and an exciting future," Stack said. "I am honored to step into the role of CEO to lead the global Aleris team as we enter our next phase of growth and continue to strengthen our position as a leading provider of innovative, high-quality aluminum products and solutions to customers across the globe."

Graves added, "On behalf of the Board of Directors, we'd like to thank Steve Demetriou for his eleven years serving as Chairman and CEO of Aleris. We appreciate his many accomplishments and wish him well in his future endeavors."