Alcoa shares jump after Thomas Gorman announced as new chair
Make us a preferred source
Make us a preferred source on Google
More news: Alcoa shares jumped after it the company announced that former Brambles chief executive Thomas Gorman will be its new non-executive chair.
Its shares gained 3.53% by 12:23pm AEST, but over the last 12 months they have lost 22.92%.
Alcoa names former Brambles boss as new chair
The news: US aluminium giant Alcoa has named former Brambles CEO Thomas Gorman as its new non-executive chairman.
The numbers: Gorman, who has been an independent director on the Alcoa board since May 2021, will take over the role with immediate effect. He comes in after the incumbent, Steve Williams, announced he would step down after eight years in the role.
The context: Gorman was the CEO of logistics company Brambles from 2008 to 2017 and previously served in senior positions at Ford Motor Company. On the Alcoa board, he has been serving as the chair of the people and compensation committee, as well as the governance and nominating committee. Alcoa last year acquired ASX-listed Alumina, which was a 40% partner in their Alcoa World Alumina and Chemicals (AWAC) joint venture with Alcoa.
Separately, metals recycling firm Sims announced Gorman would step down as a non-executive director from its board following the Alcoa appointment.
