{"id":22208,"date":"2023-09-26T04:47:44","date_gmt":"2023-09-26T04:47:44","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/alcoa-surprises-with-a-new-ceo-the-stock-is-dropping\/"},"modified":"2023-09-26T04:47:45","modified_gmt":"2023-09-26T04:47:45","slug":"alcoa-surprises-with-a-new-ceo-the-stock-is-dropping","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=22208","title":{"rendered":"Alcoa Surprises With a New CEO. The Stock Is Dropping."},"content":{"rendered":"
\n
\n

<\/p>\n

\n
<\/div>
\n

Alcoa stock dropped after the company named a new CEO on Monday.<\/h4>\n


\n Justin Merriman\/Bloomberg
\n <\/span>
\n <\/figcaption><\/figure>\n<\/p><\/div>\n

Aluminum maker
\n Alcoa
\n surprised investors on Monday with a new chief executive. The unexpected move sent the stock lower. <\/p>\n

In midday trading, shares of
\n Alcoa
\n (ticker: AA) were off 5.2% at $28.69 apiece. The
\n S&P 500
\n was up 0.2% and the
\n Dow Jones Industrial Average
\n was down 0.2%. <\/p>\n

In a statement, the company announced that William Oplinger had succeeded Roy Harvey as CEO on Sunday. Harvey will serve as strategic adviser until Dec. 31.<\/p>\n

\n

Oplinger, 56, had served as executive vice president and chief operations officer since February. From November 2016 until this year, he was EVP and chief financial officer. Harvey, whose age wasn\u2019t mentioned, had been CEO since November 2016, when the company went public. <\/p>\n

The company said the change reflects its \u201csuccession planning process.\u201d <\/p>\n

Speaking for Alcoa\u2019s board of directors, nonexecutive Chairman Steven Williams thanked Harvey for his service and showed support for Oplinger.<\/p>\n

Harvey had helped \u201cto transform Alcoa into the stronger and more resilient company that it is today,\u201d said Williams. He added:\u00a0\u201cOur Board believes Bill\u2019s extensive experience with Alcoa makes him well-positioned to carry the Company forward.\u201d <\/p>\n

The element of surprise might have something to do with the stock drop. <\/p>\n

\u201cEver since this Pittsburgh-based company split off from
\n Arconic
\n \/Howmet in 2016, it has been Harvey who has been calling the shots,\u201d wrote Gordon Haskett analyst Don Bilson in a Monday report. <\/p>\n

Bilson pointed out that Harvey, at 49 or 50 years old, is younger than Oplinger. <\/p>\n

\u201cWe suppose the foundation for such a move was set last winter when the 56-year-old Oplinger was promoted from CFO to COO,\u201d added Bilson. \u201cManagement swaps that are made with this type of haste are always suspicious.\u201d <\/p>\n

Stock price performance could have had something to do with the switch. Alcoa stock is down about 23% over the past 12 months. By comparison, shares of
\n Kaiser Aluminum
\n (KALU) and
\n Century Aluminum
\n (CENX) are both up\u201417% and about 15%, respectively. Aluminum prices have been roughly flat over the past year. <\/p>\n

Alcoa didn\u2019t immediately respond to a request for comment from Barron\u2019s<\/em> about the change. <\/p>\n

Investors might have to wait for third-quarter earnings to hear more from management about the change. Results are due out about three weeks into October. <\/p>\n

Investors don\u2019t like waiting. They don\u2019t like unwelcome surprises either. <\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new chief executive. The unexpected move sent the stock lower. In midday trading, shares of Alcoa (ticker: AA) were off 5.2% at $28.69 apiece. The S&P 500 was up 0.2% and the<\/p>\n","protected":false},"author":1,"featured_media":22209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-22208","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nAlcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/microloannexus.com\/?p=22208\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus\" \/>\n<meta property=\"og:description\" content=\"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new\" \/>\n<meta property=\"og:url\" content=\"https:\/\/microloannexus.com\/?p=22208\" \/>\n<meta property=\"og:site_name\" content=\"Micro Loan Nexus\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-26T04:47:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-26T04:47:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/09\/1695703665_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/microloannexus.com\/?p=22208#article\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/?p=22208\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\"},\"headline\":\"Alcoa Surprises With a New CEO. The Stock Is Dropping.\",\"datePublished\":\"2023-09-26T04:47:44+00:00\",\"dateModified\":\"2023-09-26T04:47:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/microloannexus.com\/?p=22208\"},\"wordCount\":414,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/microloannexus.com\/?p=22208#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/microloannexus.com\/?p=22208\",\"url\":\"https:\/\/microloannexus.com\/?p=22208\",\"name\":\"Alcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus\",\"isPartOf\":{\"@id\":\"https:\/\/microloannexus.com\/#website\"},\"datePublished\":\"2023-09-26T04:47:44+00:00\",\"dateModified\":\"2023-09-26T04:47:45+00:00\",\"description\":\"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new\",\"breadcrumb\":{\"@id\":\"https:\/\/microloannexus.com\/?p=22208#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/microloannexus.com\/?p=22208\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/microloannexus.com\/?p=22208#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/microloannexus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alcoa Surprises With a New CEO. The Stock Is Dropping.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/microloannexus.com\/#website\",\"url\":\"https:\/\/microloannexus.com\/\",\"name\":\"Solutions For Real\",\"description\":\"Latest Finance News and Updates\",\"publisher\":{\"@id\":\"https:\/\/microloannexus.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/microloannexus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/microloannexus.com\/#organization\",\"name\":\"Solutions For Real\",\"url\":\"https:\/\/microloannexus.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png\",\"width\":690,\"height\":64,\"caption\":\"Solutions For Real\"},\"image\":{\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/microloannexus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"contentUrl\":\"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/microloannexus.com\"],\"url\":\"https:\/\/microloannexus.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus","description":"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/microloannexus.com\/?p=22208","og_locale":"en_US","og_type":"article","og_title":"Alcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus","og_description":"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new","og_url":"https:\/\/microloannexus.com\/?p=22208","og_site_name":"Micro Loan Nexus","article_published_time":"2023-09-26T04:47:44+00:00","article_modified_time":"2023-09-26T04:47:45+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/09\/1695703665_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/microloannexus.com\/?p=22208#article","isPartOf":{"@id":"https:\/\/microloannexus.com\/?p=22208"},"author":{"name":"News Room","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a"},"headline":"Alcoa Surprises With a New CEO. The Stock Is Dropping.","datePublished":"2023-09-26T04:47:44+00:00","dateModified":"2023-09-26T04:47:45+00:00","mainEntityOfPage":{"@id":"https:\/\/microloannexus.com\/?p=22208"},"wordCount":414,"commentCount":0,"publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/microloannexus.com\/?p=22208#respond"]}]},{"@type":"WebPage","@id":"https:\/\/microloannexus.com\/?p=22208","url":"https:\/\/microloannexus.com\/?p=22208","name":"Alcoa Surprises With a New CEO. The Stock Is Dropping. | Micro Loan Nexus","isPartOf":{"@id":"https:\/\/microloannexus.com\/#website"},"datePublished":"2023-09-26T04:47:44+00:00","dateModified":"2023-09-26T04:47:45+00:00","description":"Alcoa stock dropped after the company named a new CEO on Monday. Justin Merriman\/Bloomberg Aluminum maker Alcoa surprised investors on Monday with a new","breadcrumb":{"@id":"https:\/\/microloannexus.com\/?p=22208#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/microloannexus.com\/?p=22208"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/microloannexus.com\/?p=22208#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/microloannexus.com\/"},{"@type":"ListItem","position":2,"name":"Alcoa Surprises With a New CEO. The Stock Is Dropping."}]},{"@type":"WebSite","@id":"https:\/\/microloannexus.com\/#website","url":"https:\/\/microloannexus.com\/","name":"Solutions For Real","description":"Latest Finance News and Updates","publisher":{"@id":"https:\/\/microloannexus.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/microloannexus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/microloannexus.com\/#organization","name":"Solutions For Real","url":"https:\/\/microloannexus.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/sf-logo-1.png","width":690,"height":64,"caption":"Solutions For Real"},"image":{"@id":"https:\/\/microloannexus.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/e2d3b62d35ac325be68540d68dc6660a","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/microloannexus.com\/#\/schema\/person\/image\/","url":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","contentUrl":"https:\/\/microloannexus.com\/wp-content\/uploads\/2023\/08\/avatar_user_1_1691264579-96x96.png","caption":"News Room"},"sameAs":["https:\/\/microloannexus.com"],"url":"https:\/\/microloannexus.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/22208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22208"}],"version-history":[{"count":1,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/22208\/revisions"}],"predecessor-version":[{"id":22210,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/posts\/22208\/revisions\/22210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=\/wp\/v2\/media\/22209"}],"wp:attachment":[{"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microloannexus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}