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BRIEF-Klaus Kleinfeld steps down as chair and CEO of Arconic
April 17, 2017 / 1:37 PM / 5 months ago

BRIEF-Klaus Kleinfeld steps down as chair and CEO of Arconic

April 17 (Reuters) - Arconic Inc:

* Klaus Kleinfeld steps down as chair and CEO of Arconic

* Arconic Inc - Patricia F. Russo, lead director, appointed to serve as interim chair

* Arconic Inc says Patricia F. Russo, lead director, appointed to serve as interim chair

* Arconic Inc - David P. Hess, Arconic board member, appointed to serve as interim CEO

* Arconic Inc- David P. Hess has been appointed as interim CEO of Arconic

* Arconic - Kleinfeld stepped down after board learned that, without authorization by board, Kleinfeld sent letter directly to Elliott management

* Arconic - board continues to believe that under Kleinfeld’s leadership, co successfully executed “improved business performance”

* Arconic Inc - “board reaffirms strategy developed under Mr. Kleinfeld’s leadership”

* Arconic - CEO’s decision to step down was not made in response to proxy fight or Elliott Management’s criticisms of co’s strategy Source text for Eikon: Further company coverage:

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