Alcoa Eliminates Business Unit Structure; To Announce Additional Changes

(RTTNews) - Alcoa Corp. (AA) said it will eliminate the company's business unit structure, effective November 1, 2019. The Alcoa Executive team will also be streamlined from 12 to seven direct reports to the CEO. Michael Parker, President, Alumina, and Garret Dixon, President, Bauxite, will depart the company. John Slaven, currently Chief Strategy Officer, has been named Executive Vice President and Chief Operations Officer.

Alcoa said it is planning additional organizational changes to reduce overhead. The company expects to report restructuring charges at the close of the third quarter.