- Push-out Score determined
- After about a year and a half in the position
- Dual Chief Executive Officer role eliminated
- John Plant becomes sole Chief Executive Officer
(exechange) — Pittsburgh, Pennsylvania, October 14, 2021 — Tolga Oal, co-chief executive of Howmet, leaves. As announced by Howmet Aerospace Inc. in a news release and in a regulatory filing published on Thursday, October 14, 2021, Tolga I. Oal, co-chief executive officer, leaves the aerospace company, after about a year and a half in the role, effective immediately.
Howmet eliminates the dual Chief Executive Officer role. John C. Plant will be sole Chief Executive Officer.
“To pursue other opportunities”
Tolga Oal’s departure from the Co-CEO post is explained as follows. Howmet said: “Tolga I. Oal, Co-Chief Executive Officer, has departed the Company to pursue other opportunities.”
Precise information regarding Tolga Oal’s future plans was not immediately available.
“Departing”
Howmet said: “In connection with the transition, Tolga I. Oal, the Company’s Co-Chief Executive Officer, is departing the Company to pursue other opportunities and is also stepping down from the Board, each effective as of October 14, 2021.”
Share price increase since April 2020
The announcement follows an increase in Howmet Aerospace Inc.’s share price of 138% since April 2020. April 2020 is the month in which Oal’s tenure as Co-CEO began.
In the position of Co-CEO since 2020
Tolga Oal became Co-CEO of the Company in 2020.
From May 2019 to April 2020, Oal served as President of the Company’s Engineered Structures business, a global leader in highly engineered titanium and aluminum components for the aerospace and defense markets.
Oal previously held leadership roles as President Driveline, President Americas and Senior Vice President Purchasing for American Axle & Manufacturing in Detroit, Michigan from September 2015 to April 2019.
From June 2008 to September 2015, Oal held several leadership positions at TRW Automotive, including Vice President and General Manager of the Global Electronics Business Unit.
Prior to his experience at TRW Automotive, Oal spent several years at Siemens VDO Automotive in Europe and the United States.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tolga Oal’s move on a scale of 0 to 10.
exechange reached out to Howmet and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 42.2021 ($).