Roy Harvey to head Alcoa's commodities business post split
Reuters
Published Nov 24, 2015 03:52PM ET
Roy Harvey to head Alcoa's commodities business post split
(Reuters) - Aluminum producer Alcoa Inc (N:AA) said it named Roy Harvey chief executive of its traditional aluminum smelting and refining operations, which would be separated from its faster growing plane and car parts business.
Harvey, 41, is currently the president of Alcoa's global primary products business, where he manages the operations of aluminum smelters, alumina refineries and bauxite mines.
Alcoa said in September it would split into two, as shareholders sought higher returns amid a commodity slump.
A global glut of aluminum has led to depressed prices, battering Alcoa's stock, which has nearly halved in one year.
Alcoa had previously said its current CEO Klaus Kleinfeld would helm its plane and car parts business, which is yet to be named.
The company also said on Tuesday Chief Financial Officer William Oplinger would continue in the same role at its smelting and refining business, which will retain the Alcoa name following the split.
Ken Giacobbe, who is currently the finance chief of Alcoa's engineered products and solutions business, will be the CFO of its plane and car parts business.
The separation of the two businesses is expected to be completed in the second half of next year.
(Story corrects paragraph 2 to show that Harvey is currently, not formerly, the president of primary products business; Also clarifies in the headline he will head the commodities, not smelting, business)
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Written By: Reuters
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