Alcoa announces restructuring of Executive Leadership Team

Alcoa Corporation (NYSE: AA) today announced a restructuring of its Executive Leadership Team to further improve the Company’s rigorous focus on operational excellence, cost, and innovation.

The changes, effective February 1, 2023, will include the reassignment of responsibilities for two existing members of the Executive Leadership Team and the appointment of a new Chief Financial Officer.

• William F. Oplinger, currently Executive Vice President (EVP) and Chief Financial Officer, will become EVP and Chief Operations Officer.
• Molly Beerman, currently Senior Vice President and Controller, has been appointed EVP and Chief Financial Officer. She will also be the executive member to oversee Alcoa’s Information Technology and Automation Solutions team.
• Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa’s breakthrough research and development technologies.

“This restructuring will ensure continued improvement and focus on Alcoa’s strategies to operate as a low-cost, margin-focused, sustainable producer,” said Alcoa President and CEO Roy Harvey. “The plan is fully aligned with our Company’s purpose and vision to reinvent the aluminum industry, and it will integrate the corporate strategy team with our innovative and breakthrough technologies.”

As part of the restructuring, John D. Slaven, current EVP and Chief Operations Officer, and Benjamin D. Kahrs, EVP and Chief Innovation Officer, will be leaving the Company.

“John and Ben are tremendous professionals and exceptional leaders who have contributed significantly to Alcoa’s success,” Harvey said. “I thank them for their strong leadership and commitment to excellence, and we will continue to build on their achievements.”

William F. Oplinger has served as Alcoa Corporation’s Chief Financial Officer since November 2016, when the Company completed a legal and structural separation from Alcoa Inc. (the Separation).

Oplinger has demonstrated expertise in finance and has prior operational experience, including previously serving as the Chief Operating Officer for Alcoa Inc.’s Global Primary Products division, which includes assets now controlled by Alcoa Corporation. Prior to his role with Alcoa Corporation, he served three years as Executive Vice President and Chief Financial Officer of Alcoa’s former parent company, which he joined in 2000.