Alcoa Board Approves Separation of Company
Alcoa Inc. recently announced that its board of directors has approved the company’s separation.
Alcoa Inc. recently announced that its board of directors has approved the completion of the company’s separation into two independent, publicly traded companies. Arconic will be a global provider of high-performance materials and engineered products to the aerospace, automotive and other growth industries. Alcoa Corp. will be a globally competitive industry leader in bauxite, alumina and aluminum products. The separation is scheduled to become effective November 2016.
Upon separation, Klaus Kleinfeld will serve as Arconic chairman and CEO. Michael Morris will become non-executive chairman of Alcoa Corp., and Roy Harvey, current group president of the Alcoa Global Primary Products business, will be its CEO.
For more information, visit www.alcoa.com.