Business Context and Reporting Period
This Form 8-K is a current report filed by Alcoa Inc. (not Howmet Aerospace Inc.) on October 15, 2013, regarding events that occurred on October 9, 2013. The filing addresses changes in the company's principal accounting officer.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure of Principal Accounting Officer: Graeme W. Bottger, Vice President and Controller, ceased serving as the principal accounting officer effective October 21, 2013.
- Appointment of New Principal Accounting Officer: Robert S. Collins was elected Vice President and Controller, succeeding Mr. Bottger, effective October 21, 2013.
- Internal Promotion: Mr. Bottger was elected Executive Vice President and President of the Company's Global Business Services.
Management Commentary and Risks
Mr. Collins, 47, has served as Assistant Controller since May 2009, overseeing global financial accounting policies and acting as a primary liaison with external auditors. Prior to joining Alcoa in 2005, he spent 14 years at PricewaterhouseCoopers LLP in audit and M&A practices. The company will enter into a standard indemnity agreement with Mr. Collins. No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the effective date of the leadership transition (October 21, 2013).
- Confirm the professional background of the new Controller, Robert S. Collins.
- Note that this filing pertains to Alcoa Inc., not Howmet Aerospace Inc.
- Review the attached press release (Exhibit 99) for additional context on the organizational restructuring.