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Posted 02 March, 2021

ALLEGHENY TECHNOLOGIES INC appointed Mr. Sims as new CEO

NYSE:ATI appointed new Chief Executive Officer Mr. Sims in a 8-K filed on 02 March, 2021.


  As previously disclosed, Mr. Sims, who led the Company's High Performance Materials and Components segment from 2013 through December 31, 2020, assumed the role of Senior Advisor to the CEO as of January 1, 2021 with the expectation that he would retire during 2021.  

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Overview of ALLEGHENY TECHNOLOGIES INC
Basic Materials/Resources • Non-Ferrous Metals
ATI, Inc. engages in the manufacture of specialty materials and components. It operates through the High Performance Materials and Components and Advanced Alloys and Solutions segments. The High Performance Materials and Components segment consists of the production of materials, parts, and components for aerospace and defense, medical, and energy markets. The Advanced Alloys and Solutions segment includes the production of nickel-based alloys, titanium and titanium-based alloys, and alloys in a variety of forms including plate, sheet, and PRS products. The company was founded on August 15, 1996 and is headquartered in Dallas, TX.
Market Cap
$6.47B
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ALLEGHENY TECHNOLOGIES INC by TradingView
Relevant filing section
Item 5.02. 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


(b) John D. Sims retired from his position as Senior Advisor to the CEO effective as of February 28, 2021. As previously disclosed, Mr. Sims, who led the Company's High Performance Materials and Components segment from 2013 through December 31, 2020, assumed the role of Senior Advisor to the CEO as of January 1, 2021 with the expectation that he would retire during 2021. 

(e) The Company entered into a Consulting Agreement ("Consulting Agreement"), dated February 28, 2021 (the "Effective Date"), with Mr. Sims, pursuant to which Mr. Sims will provide certain consulting services to the Company as requested by the Company from time to time through the end of 2021, in exchange for which he will be entitled to certain consulting fees and other benefits as more fully described in the Consulting Agreement. The Consulting Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference, also contains provisions that restrict Mr. Sims from competing against the Company or soliciting employees or customers of the Company for a period of 24 months following the effective date, together with other affirmative and negative covenants that are customary for agreements of this nature.