UPDATE 1-Arconic names veteran GE exec Blankenship as CEO [Reuters]
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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Source: Reuters
UPDATE 1-Arconic names veteran GE exec Blankenship as CEO | Reuters Reuters Staff 2 Min Read (Adds appointment details, share price, Elliott’s comment) Oct 23 (Reuters) - U.S. specialty metals maker Arconic Inc named former veteran General Electric Co executive Charles “Chip” Blankenship as its as chief executive, six months after its CEO resigned under pressure from an activist investor. Arconic’s stock was up 3.9 percent at $28.24 in premarket trading. Arconic’s former CEO Klaus Kleinfeld resigned in April following attempts by activist hedge fund Elliott Management to overthrow the company’s directors and top executives. Blankenship, 51, a 24-year GE veteran, will replace David Hess, who has served as Arconic’s interim CEO since April. Blankenship, whose appointment is effective Jan. 15, began his career with GE in 1992 and was named the CEO of GE Appliances in December 2011. He remained in the position until GE sold the appliance unit to China’s Haier Group for $5.4 billion in 201
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