Why is Alcoa Inc. filing this 8-K?

Alcoa Inc. is filing this 8-K to report a change in its principal accounting officer due to internal promotions. Specifically, Graeme W. Bottger is moving to a new executive role, and Robert S. Collins is being appointed as the new principal accounting officer.

Who is the new Principal Accounting Officer and what is their background?

Robert S. Collins is the new Vice President and Controller, and therefore the new principal accounting officer. He has been with Alcoa since 2005, most recently serving as Assistant Controller, and previously worked for 14 years at PricewaterhouseCoopers LLP in audit and mergers and acquisitions.

When do these changes take effect?

Both the departure of Graeme W. Bottger from his principal accounting officer duties and the appointment of Robert S. Collins to that role are effective October 21, 2013.

Is there any financial impact associated with these executive changes?

This filing primarily concerns personnel changes in accounting leadership and does not, in itself, disclose specific financial impacts. The press release incorporated by reference may provide further context, but typically, such executive transitions are not accompanied by immediate, material financial disclosures unless directly tied to severance or new compensation packages not detailed here.

HWM 8-K: Leadership Changes

Summary

This Form 8-K filing from Alcoa Inc. (the "Company"), now known as Howmet Aerospace Inc. (HWM), announces a change in its principal accounting officer. Graeme W. Bottger, previously Vice President and Controller and the principal accounting officer, has been promoted to Executive Vice President and President of Global Business Services, effective October 21, 2013. As a result of this promotion, he will cease to serve as the principal accounting officer. Concurrently, Robert S. Collins has been appointed as the new Vice President and Controller, and consequently, the new principal accounting officer, also effective October 21, 2013. Mr. Collins brings extensive experience from his prior roles within Alcoa as Assistant Controller and Director of Financial Transactions and Policy, as well as 14 years of experience in audit and mergers and acquisitions at PricewaterhouseCoopers LLP. An indemnity agreement will be entered into with Mr. Collins.

Key Highlights

1Graeme W. Bottger, the Company's Principal Accounting Officer, is transitioning to a new executive role.
2Robert S. Collins appointed as the new Vice President and Controller, assuming the role of Principal Accounting Officer.
3The leadership change in the Principal Accounting Officer role is effective October 21, 2013.
4Mr. Collins has a strong background within Alcoa, having served as Assistant Controller since 2009.
5Mr. Collins possesses significant external experience, with 14 years at PricewaterhouseCoopers LLP.
6The filing incorporates by reference a press release dated October 10, 2013, detailing these appointments.

Howmet Aerospace Inc. 8-K Report, Executive Changes (Oct 15, 2013)

Summary

Key Highlights

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