
U.S. aluminium products manufacturer Arconic has appointed John C. Plant as Chairman and Chief Executive Officer. The company also said Elmer Doty, a current director, will serve as chief operating officer, and Arthur D. Collins, Jr., a current Director, will serve as Lead Director.
John C. Plant will replace former General Electric veteran Chip Blankenship. Plant will oversee the company’s operations as well as the ongoing strategy and portfolio review. It is expected that Mr. Plant will serve in the role of Chief Executive Officer for a period of one year. Plant previously served as the CEO of auto parts maker TRW Automotive from 2003 to 2015.
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Mr. Doty has extensive knowledge of Arconic’s aerospace and defense markets, having served from December 2012 to February 2016 as President and Chief Executive Officer of Accudyne Industries LLC, a provider of precision-engineered flow control systems and industrial compressors.
“We are very excited that John and Elmer are taking on executive roles at the company,” commented Mr. Collins. “The Board is focused on continuing to identify and implement operational improvements and other potential strategic initiatives, and John and Elmer will bring extensive management experience, intimate knowledge of our businesses and markets, and a strong track record of driving value for shareholders as we continue that effort.”
Mr. Plant said, “I am confident in Arconic’s significant potential, and look forward to working as CEO to capitalize on the opportunities before us and build momentum in our businesses and enhance value for our shareholders.”
“On behalf of the Board, we would like to thank Chip Blankenship for stabilizing and guiding the company over the past year and positioning the company for improved operations and significant value creation.”
“Arconic has a lot of strengths and a lot of opportunities, and I’m excited to join the team as COO and get to work enhancing our operations and charting a new strategic direction to deliver for our shareholders,” said Mr. Doty.
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