8-KLeadership ChangesExhibits & Filings

ATI INC 8-K Report, Executive Changes (May 31, 2019)

Filed May 31, 2019For Securities:ATI

Summary

Allegheny Technologies Incorporated (ATI) announced on May 31, 2019, via an 8-K filing, the appointment of two new independent directors to its Board of Directors: David P. Hess and Marianne Kah. This strategic move aims to bolster the Board's expertise in key areas relevant to ATI's business operations and future growth. David P. Hess brings extensive experience from the aerospace industry, notably his tenure at United Technologies Corporation where he held leadership positions including President of Pratt & Whitney and Executive Vice President for Aerospace. His background also includes interim CEO experience at Arconic, suggesting a strong understanding of operational and strategic challenges. Marianne Kah offers deep expertise in global energy and raw materials markets, having served as Chief Economist for ConocoPhillips for over two decades. Her current focus on disruptive technologies impacting energy demand is also highly relevant.

Key Highlights

  • 1ATI appointed David P. Hess and Marianne Kah as new independent directors to its Board of Directors, effective May 30, 2019.
  • 2David P. Hess brings significant aerospace and manufacturing experience, including leadership roles at United Technologies Corporation and interim CEO experience at Arconic.
  • 3Marianne Kah possesses extensive expertise in global energy and raw materials markets, with over 20 years as Chief Economist at ConocoPhillips.
  • 4Both new directors will serve on key Board committees: Mr. Hess on the Finance and Nominating and Governance Committees, and Ms. Kah on the Audit and Technology Committees.
  • 5The Board has determined that both Mr. Hess and Ms. Kah meet the criteria for independent directors.
  • 6The appointments are intended to enhance the Board's strategic oversight and governance capabilities.
  • 7A press release dated May 31, 2019, was issued to announce these appointments.

Frequently Asked Questions

The addition of Mr. Hess and Ms. Kah brings specialized expertise to ATI's Board. Mr. Hess's extensive background in aerospace and manufacturing, coupled with Ms. Kah's deep knowledge of energy and raw materials markets, is intended to strengthen the Board's strategic oversight, particularly concerning critical industry trends and operational challenges relevant to ATI's business.

David P. Hess offers decades of experience in the aerospace sector, including leadership at United Technologies Corporation and interim CEO experience at Arconic. Marianne Kah is a recognized expert in global energy and raw materials markets, with a strong background in economic analysis and strategic planning from her time at ConocoPhillips.

Yes, the new directors will be actively involved in key areas of the Board's oversight. Mr. Hess will serve on the Finance and Nominating and Governance Committees, while Ms. Kah will join the Audit and Technology Committees, indicating their direct contributions to critical financial, governance, audit, and technology-related matters.

Yes, the Company has determined that both David P. Hess and Marianne Kah are independent directors, meeting the requirements of the New York Stock Exchange listing standards and ATI's own categorical Board independence standards.