- Push-out Score determined
- After almost 10 years in the position
- Praise and thanks for Bless
- Jesse Gary taking over
- Bless said 111 words
(exechange) — Chicago, Illinois, May 17, 2021 — Mike Bless, chief executive of Century Aluminum, leaves. As announced by Century Aluminum Co. in a news release and in a regulatory filing published on Monday, May 17, 2021, Michael A. (Mike) Bless leaves his post as chief executive officer at the producer of primary aluminum after almost 10 years in the role, effective June 30, 2021.
Mike Bless’s duties as CEO will be taken over by Jesse Gary, currently Executive Vice President, Chief Operating Officer and General Counsel at Century Aluminum Co.
“Thorough, multi-year process”
Mike Bless’s departure from the CEO post is explained as follows. Andrew Michelmore, Chairman of the Board, said: “The Board has worked with Mike to execute a thorough, multi-year process to consider and evaluate succession candidates.”
Precise information regarding Mike Bless’s future plans was not immediately available.
“Retire/step down”
Century Aluminum said: “Mike Bless will retire as President and Chief Executive Officer, effective July 1, 2021, after 15 years with Century, including nearly 10 years as CEO. He will also step down from the board at that time.”
Century Aluminum further said: “Mr. Gary, age 41, will succeed Michael Bless, who will step down as President and Chief Executive Officer of the Company effective June 30, 2021, but will remain with the Company through March 31, 2022 to support the leadership transition.”
“Not a result of any disagreement”
“Mr. Bless’s decision to resign from the Board was not a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” Century Aluminum said.
Share price increase since May 2016
The announcement follows an increase in Century Aluminum Co.’s share price of 79% since May 2016.
Chaired by Andrew Michelmore
Andrew Michelmore serves as Century Aluminum Co.’s Chairman.
Michelmore rejoined the Company’s Board in September 2018 after previously serving on Century’s Board from June 2010 through September 2015.
In the position of CEO since 2011
Mike Bless became CEO of the Company in 2011.
Bless will continue to provide his guidance and expertise to Century as a strategic advisor until his ultimate retirement from the company on March 31, 2022.
Bless joined Century in 2006 as Chief Financial Officer.
Bless was elected President and Chief Executive Officer in November 2011 and elected to the Company’s Board in December 2012.
Bless also currently serves as a director of Simpson Manufacturing Inc. and CNA Financial Corporation.
Prior to joining Century, Bless held a number of senior management positions at both public and private companies and investment banks, including Chief Financial Officer of Rockwell Automation, Inc. and investment banking at Dillon, Read & Co.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Mike Bless’s move on a scale of 0 to 10.
exechange reached out to Century Aluminum and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 21.2021 ($).