Alumina (ASX:AWC) released an announcement showing that Alcoa Corporation is to streamline its executive team from 12 to seven who directly report to the CEO.
The global leader in bauxite, alumina, and aluminum products announced that effective from November 1, 2019, they will implement a new operating model.
They will eliminate its business unit structure and consolidate sales, procurement and other commercial capabilities at an enterprise level.
The new structure will reduce overhead, promote operational and commercial excellence, increase connectivity between the Company’s plants and leadership, ensure a continued focus on safety as our highest priority, and position Alcoa for sustainable profitability.
Shares in Alumina (ASX:AWC) are trading 1.79 per cent higher at $2.28.