Alcoa Rolls Out Restructuring Plan [TheStreet.com]
Alcoa Corporation (AA)
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Source: TheStreet.com
Alcoa Rolls Out Restructuring Plan Aluminum products and wrap maker Alcoa ( AA Get Report The maker of bauxite, alumina and aluminum products said in a statement As part of that effort, the company's executive team will be streamlined to seven department heads from 12 that report to the CEO, which will "reduce overhead" as well as increase connectivity between the company's plants and leadership. Alcoa Corporation announces new operating model - read press release https:t.coHjTmP2EvHe pic.twitter.comMzw0z2RICr September 9, 2019 Specifically, Michael Parker and Garret Dixon, heads of the company's alumina and bauxite divisions respectively, will depart, along with other executives. "These changes to our operating model build on the important progress we've made since our 2016 separation to reduce complexity, drive returns and strengthen the balance sheet, all with the goal of creating a stronger Alcoa," CEO Roy Harvey said in the statement. Shares of Alcoa were down were down 0.5% at $
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