- Push-out Score determined
- After almost 19 years in the position
- Praise for Hockema
- Keith Harvey taking over
- Hockema will remain as Executive Chairman at Kaiser Aluminum
- Hockema said 73 words
(exechange) — Foothill Ranch, California, June 22, 2020 — Jack Hockema, chief executive of Kaiser Aluminum, leaves his position. As announced by Kaiser Aluminum Corp. in a news release and in a regulatory filing published on Monday, June 22, 2020, Jack A. Hockema leaves his post as chief executive officer at the producer of semi-fabricated specialty aluminum products for the aerospace and automotive industries after almost 19 years in the role, effective July 31, 2020.
It is the end of an era.
Jack Hockema’s duties as CEO will be taken over by Keith A. Harvey, currently Chief Operating Officer of Kaiser Aluminum Corp.
“Deliberate, multi-year succession planning process”
Jack Hockema’s departure from the CEO post is explained as follows. Kaiser Aluminum said: “Kaiser Aluminum Corporation (NASDAQ:KALU) today announced that its Board of Directors approved an executive leadership succession following a deliberate, multi-year succession planning process.”
Hockema will remain as Executive Chairman at Kaiser Aluminum
“Mr. Hockema will remain on the Company’s Board of Directors as Executive Chairman, providing the benefit of his experience and leadership to enable a smooth and successful transition,” Kaiser Aluminum said.
Kaiser Aluminum said: “Jack A. Hockema, who has served as Kaiser Aluminum’s Chief Executive Officer since October 2001 and Chairman of the Board of Directors since July 2006, will transition from his position as Chief Executive Officer effective as of July 31, 2020.”
Share price increase since January 2009
The announcement follows an increase in Kaiser Aluminum Corp.’s share price of 197% since January 2009.
In the position of CEO since 2001
Jack Hockema became CEO of the Company in 2001.
Jack A. Hockema has served as the Company’s CEO and as a director since 2001 and as Chairman of the Board since July 2006.
He previously served as President of Kaiser Aluminum Corporation (referred to herein as Kaiser) from October 2001 to December 2015, as Executive Vice President of Kaiser and President of the Kaiser Fabricated Products division from January 2000 to October 2001, and as Executive Vice President of Kaiser from May 2000 to October 2001.
He served as Vice President of Kaiser from May 1997 to May 2000.
Hockema was President of Kaiser Engineered Products from March 1997 to January 2000. He served as President of Kaiser Extruded Products and Engineered Components from September 1996 to March 1997.
Hockema served as a consultant to Kaiser and acting President of Kaiser Engineered Components from September 1995 to September 1996.
Hockema was an employee of Kaiser from 1977 to 1982, working at the Company’s Trentwood facility in Spokane, Washington, and serving as plant manager of the Company’s former Union City, California can plant and as operations manager for Kaiser Extruded Products.
In 1982, Hockema left Kaiser to become Vice President and General Manager of Bohn Extruded Products, a division of Gulf+Western, and later served as Group Vice President of American Brass Specialty Products until June 1992.
From June 1992 to September 1996, Hockema provided consulting and investment advisory services to individuals and companies in the metals industry.
He holds a Master of Science degree in Management and a Bachelor of Science degree in Civil Engineering, both from Purdue University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Kaiser Aluminum and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2020 ($).