Aleris Announces Leadership Changes
Appoints new leaders for Europe, global aerospace, and industrial segments; elevates technology & R&D
May 13, 2015
CLEVELAND, May 13, 2015 /PRNewswire/ -- Aleris today announced leadership changes as part of its transformation into a pure-play global aluminum rolled products company that will strengthen its position as a leading supplier to key industries including aerospace, automotive, building and construction and industrial products. These changes follow the company's recent divestitures of its recycling and specification alloys and the extrusions businesses.
The company will continue to be organized in three regions, North America, Europe and Asia Pacific. Sean Stack, executive vice president and CEO, Aleris North America, will continue to lead the company's North America business, which includes leading the successful completion of the company's $350 million automotive expansion project in Lewisport, Kentucky. Roeland Baan has been appointed executive vice president and CEO, Aleris Europe. Baan, who most recently served as executive vice president and CEO, Aleris Asia Pacific, will now be responsible for the company's operations and commercial organization in Europe as well as the company's global aerospace and automotive segments. John Zhu, senior vice president and president, Aleris Asia Pacific, will now lead all operations and commercial activities for the company's world-class aerospace plate mill in Zhenjiang, China. Stack, Baan, and Zhu will all report directly to Aleris Chairman and CEO Steve Demetriou.
The company also announced the promotion of Aleris Chief Technology Officer, Philippe Meyer, to senior vice president, now also reporting to Demetriou. Meyer, who is responsible for research and development and process excellence has built the company's global technology infrastructure which will include five global innovation centers across North America, Europe and Asia Pacific. Meyer's promotion reflects the company's growing focus on research and development and process excellence as it sharpens its focus on delivering technologically advanced, higher value products to industries including automotive and aerospace.
In the company's commercial organization, Aleris announced the appointment of Ingo Kroepfl, vice president, global Aerospace. Ingo will replace Johan Petry, who has been appointed vice president, Europe Industrial. Kroepfl has held a number of critical technical leadership roles over the course of his career at Aleris, including his most recent assignment as managing director, Aleris Zhenjiang, where he was responsible for the successful construction and ramp-up of the Zhenjiang aerospace plate mill. Petry has held various commercial leadership positions across the Aleris product portfolio, and most recently served as vice president, Aerospace. Kroepfl and Petry will both report directly to Baan.
"As we move forward with a singular focus on strengthening and growing our global rolled products business, I am excited to announce these new assignments, all of whom are talented leaders that have been instrumental in Aleris' success to-date," Demetriou said. "I am confident that this team will help us attain a new level of excellence as we build on our industry-leading capabilities to better serve the fast-growing automotive, aerospace, and building and construction industries."
Aleris is a privately held, global leader in aluminum rolled products serving diverse industries including aerospace, automotive, building and construction, commercial transportation and industrial manufacturing. Headquartered in Cleveland, Ohio, Aleris operates production facilities in North America, Europe and Asia. For more information, visit www.aleris.com.
Certain statements contained in this press release are "forward-looking statements" within the meaning of the federal securities laws. Statements about our beliefs and expectations and statements containing the words "may," "could," "would," "should," "will," "believe," "expect," "anticipate," "plan," "estimate," "target," "project," "look forward to," "intend" and similar expressions intended to connote future events and circumstances constitute forward-looking statements. Forward-looking statements include statements about, among other things, future costs and prices of commodities, production volumes, industry trends, anticipated cost savings, anticipated benefits from new products, facilities, acquisitions or divestitures, projected results of operations, achievement of production efficiencies, capacity expansions, future prices and demand for our products and estimated cash flows and sufficiency of cash flows to fund capital expenditures. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in or implied by any forward-looking statement. Some of the important factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, the following: (1) our ability to successfully implement our business strategy; (2) the success of past and future acquisitions and divestitures; (3) the cyclical nature of the aluminum industry, material adverse changes in the aluminum industry or our end-use segments, such as global and regional supply and demand conditions for aluminum and aluminum products, and changes in our customers' industries; (4) our ability to enter into effective metal, energy and other commodity derivatives or arrangements with customers to manage effectively our exposure to commodity price fluctuations and changes in the pricing of metals, especially London Metal Exchange-based aluminum prices; (5) increases in the cost of raw materials and energy; (6) our ability to generate sufficient cash flows to fund our capital expenditure requirements and to meet our debt service obligations; (7) our ability to fulfill our substantial capital investment requirements; (8) our ability to retain the services of certain members of our management; (9) our internal controls over financial reporting and our disclosure controls and procedures may not prevent all possible errors that could occur; (10) the loss of order volumes from any of our largest customers; (11) our ability to retain customers, a substantial number of whom do not have long-term contractual arrangements with us; (12) competitor pricing activity, competition of aluminum with alternative materials and the general impact of competition in the industry segments we serve; (13) risks of investing in and conducting operations on a global basis, including political, social, economic, currency and regulatory factors; (14) variability in general economic conditions on a global or regional basis; (15) current environmental liabilities and the cost of compliance with and liabilities under health and safety laws; (16) labor relations (i.e., disruptions, strikes or work stoppages) and labor costs; (17) our levels of indebtedness and debt service obligations, including changes in our credit ratings, material increases in our cost of borrowing or the failure of financial institutions to fulfill their commitments to us under committed credit facilities; (18) our ability to access the credit and capital markets; (19) the possibility that we may incur additional indebtedness in the future; (20) limitations on operating our business as a result of covenant restrictions under our indebtedness, and our ability to pay amounts due under the Senior Notes; and (21) other factors discussed in our filings with the Securities and Exchange Commission, including the sections entitled "Risk Factors" contained therein. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether in response to new information, futures events or otherwise, except as otherwise required by law.
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