Chris Ayers will become the new CEO and chairman of the board for Arconic, effective Monday, Sept. 11, the Pittsburgh-based Arconic Corporation announced in a news release.
Mr. Ayers has served on the Arconic Board of Directors for the past seven years and has held several executive positions in key businesses within the company’s predecessor, Alcoa, prior to his board role. Current Arconic CEO Tim Myers will continue to serve in an advisory capacity as the lead outside director of the board, Arconic said in the release on Friday, Aug. 25.
In the Quad Cities, Arconic operates its Davenport Works aluminum manufacturing plant, employing more than 2,200 people. The Riverdale plant recently celebrated its 75th anniversary.
“Having been actively involved in this company both as a board member for several years and in leading businesses from an operational standpoint prior to that, I have witnessed the remarkable agility and potential Arconic has to offer,” Mr. Ayers said. “I’d like to thank Tim (Myers) for his tremendous commitment to the company, particularly in successfully leading Arconic through the uncertainty of the past several years. I’m excited to lead Arconic as we move forward in this next chapter.”
Mr. Myers, who became Arconic’s first CEO as a standalone company in 2020, said, “I could not be prouder of what the Arconic team has accomplished, and it has been a privilege and an honor to lead this great company. I’m extremely excited about the energy and leadership Chris (Ayers) brings to the role and look forward to his many contributions to the company.”
The new leadership roles come on the heels of Apollo Funds completing its acquisition of Arconic earlier this month. As a result of the transaction, the once publicly held metals company now is privately owned.
Apollo Partner Gareth Turner said, “Chris brings extensive institutional knowledge and industry experience to this role, and we are confident he is the right leader for the company’s exciting next chapter. We would also like to thank Tim for his leadership and continued commitment to the company as Lead Outside Director of the Board.”
Mr. Ayers brings more than 25 years of executive experience in the metals industry to Arconic, with a strong focus on aerospace markets. Prior to serving on the Arconic Board of Directors, he was president and CEO of WireCo WorldGroup, Inc., from 2013 through 2017. He joined the then Alcoa in February 2010 as its chief operating officer of the Cast, Forged and Extruded Products businesses, and served as executive vice president of Alcoa Inc. and president of its Global Primary Products Group from 2011 to 2013.
Mr. Ayers held several executive positions at Precision Castparts Corporation from 1999 to 2008, and has served on the board of Universal Stainless and Alloy Products, Inc., among other companies. He began his career at Pratt & Whitney, the aircraft division of United Technologies Corporation.
