8-KLeadership ChangesExhibits & Filings

ATI INC 8-K Report, Executive Changes (Feb 28, 2011)

Filed February 28, 2011For Securities:ATI

Summary

Allegheny Technologies Incorporated (ATI) filed an 8-K on February 28, 2011, announcing significant leadership changes. L. Patrick Hassey will retire as Chairman and Chief Executive Officer on May 1, 2011. Concurrently, Richard J. Harshman has been appointed President and Chief Executive Officer, effective May 1, 2011. Mr. Harshman will also assume the role of Chairman of the Board on the same date. This transition marks a planned succession, with Mr. Harshman bringing extensive experience within ATI, having previously held roles as President and Chief Operating Officer, as well as Executive Vice President of Finance and Chief Financial Officer. The company provided this update via a press release filed as an exhibit to the 8-K. Investors should note this leadership transition as it represents a change in the strategic direction and operational management of the company. Mr. Harshman's background suggests a continuity of financial and operational oversight, which may be viewed positively by the market.

Key Highlights

  • 1L. Patrick Hassey to retire as Chairman and CEO effective May 1, 2011.
  • 2Richard J. Harshman appointed President and CEO effective May 1, 2011.
  • 3Richard J. Harshman also appointed Chairman effective May 1, 2011.
  • 4Mr. Harshman currently serves as President and Chief Operating Officer.
  • 5Mr. Harshman has prior experience as Executive Vice President, Finance and CFO.
  • 6The company filed a press release on February 28, 2011, detailing these changes.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce a planned leadership transition at Allegheny Technologies Incorporated (ATI). L. Patrick Hassey is retiring as Chairman and CEO, and Richard J. Harshman is being appointed to succeed him in these roles.

Richard J. Harshman, currently the company's President and Chief Operating Officer, will become the new President and Chief Executive Officer, effective May 1, 2011.

Yes, Richard J. Harshman will also be appointed Chairman of the Board, effective May 1, 2011, in addition to his CEO responsibilities.

Richard J. Harshman has a significant history with ATI, having served as President and Chief Operating Officer, Executive Vice President of Finance, and Chief Financial Officer. This extensive experience within the company is expected to ensure a smooth leadership transition.