Arconic Names Chris Ayers CEO And Chairman Of The Board, Effective September 11, 2023

Arconic Corporation (NYSE:ARNC) ("Arconic" or the "Company") announced today that Chris Ayers will become Chief Executive Officer and Chair of the Board of Arconic, effective September 11, 2023. Ayers has served on Arconic's Board of Directors for the past seven years and 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 Arconic's Lead Outside Director of the Board.

"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," said Ayers. "I'd like to thank Tim 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."

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 brings to the role and look forward to his many contributions to the Company."

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."

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 Arconic's Board of Directors, Ayers was President and Chief Executive Officer of WireCo WorldGroup, Inc., from 2013 through 2017. He joined 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. Ayers held several executive positions at Precision Castparts Corporation (PCC) from 1999 to 2008 and has served on the board of Universal Stainless and Alloy Products, Inc., among other companies. Ayers began his career at Pratt & Whitney, the aircraft division of United Technologies Corporation.