News & Insights

Markets
AA

Alcoa Eliminates Business Unit Structure; To Announce Additional Changes

September 09, 2019 — 05:24 am EDT

Written by RTTNews ->

(RTTNews) - Alcoa Corp. (AA) said it will eliminate the company's business unit structure, effective November 1, 2019. The Alcoa Executive team will also be streamlined from 12 to seven direct reports to the CEO. Michael Parker, President, Alumina, and Garret Dixon, President, Bauxite, will depart the company. John Slaven, currently Chief Strategy Officer, has been named Executive Vice President and Chief Operations Officer.

Alcoa said it is planning additional organizational changes to reduce overhead. The company expects to report restructuring charges at the close of the third quarter.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

Markets
RTTNews
Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.
More articles by this source ->

Stocks mentioned

AA

More Related Articles

  • •

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.