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Alcoa names William Oplinger as CEO, succeeding Roy Harvey

26th September 2023

By: Bloomberg

  

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Alcoa named William Oplinger as CEO, replacing Roy Harvey who has led the largest US aluminum producer for almost seven years.

Alcoa said Oplinger, 56, who was previously chief operations officer, took over the role as of Sunday. Harvey, who has held the top job since 2016 when Alcoa split from Arconic, will serve as strategic adviser to the new CEO until the end of the year. The company said in a filing that Harvey will receive severance payments.

The change at Alcoa comes during a tumultuous time for the aluminum industry, as weak demand pressures prices and the fallout from Russia’s invasion of Ukraine continues to dislocate markets.

A versatile and ubiquitous metal, aluminum is used in everything from cars to buildings and drinks cans. Prices have come under pressure this year as the global economy deals with inflation, a slowdown in the Chinese real estate market and uneven consumer demand.

Harvey has been one of the most vocal critics of the impact Russian aluminum is having on the market. While there are no blanket sanctions that affect trading in Russian aluminum, some buyers and traders have sought to avoid those supplies and the US has announced a duty on imports.

Edited by Bloomberg

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