UPDATE 3-Arconic taps veteran GE exec as CEO, Elliott pleased with choice [Reuters]
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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Source: Reuters
UPDATE 3-Arconic taps veteran GE exec as CEO, Elliott pleased with choice | Reuters Reuters Staff 3 Min Read * Chip Blankenship’s appointment effective Jan. 15 * Q3 profit misses Street estimates * Shares down 10 pct (Adds details on quarter, background and share price) By Ankit Ajmera Oct 23 (Reuters) - U.S. specialty metals maker Arconic on Monday named a veteran of General Electric as its new chief executive, a move that pleased Arconic’s biggest shareholder, which had been closely examining the hiring of a new leader at the company. Arconic tapped Chip Blankenship as its CEO although Elliott Management, which holds a 12.1 percent stake, had another choice in mind. “Chip Blankenship is an excellent selection... We have confidence that Chip will deliver the results and returns that Arconic is capable of producing,” Dave Miller, senior portfolio manager at Elliott, said in a statement. The decision was six months after the former CEO resigned under pressure from Elliott Management, w
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