GrafTech Announces Leadership Update
28 Setembro 2023 - 5:30PM
Business Wire
GrafTech International Ltd. (NYSE:EAF) (“GrafTech” or the
“Company”) announced today that Marcel Kessler has informed the
Company’s Board of Directors (the “Board”) of his intention, due to
family reasons, to (i) step down as Chief Executive Officer and
President effective November 15, 2023 and (ii) resign as an
employee of the Company effective December 31, 2023. Mr. Kessler
will continue to serve on GrafTech’s Board.
The Board has appointed Timothy K. Flanagan, the current Chief
Financial Officer, Senior Vice President Finance and Treasurer of
the Company, to serve as interim Chief Executive Officer and
President, and Catherine Hedoux-Delgado, the current Vice
President, Corporate Controller of the Company, to serve as interim
Chief Financial Officer and Treasurer, each effective November 15,
2023. In addition, Jeremy Halford, the Executive Vice President,
Chief Operating Officer of the Company, will continue to work with
Mr. Flanagan on key strategic initiatives, including leading
efforts in connection with the active investigation into the use of
the Company’s assets to supply the growing electric vehicle battery
market, along with his current duties.
“On behalf of the Board, I would like to thank Marcel for his
dedication and leadership since joining the Company in 2022,” said
Henry R. Keizer, Chairman of the Board of GrafTech. “I am pleased
that Marcel will continue to serve on the Board and look forward to
his continued contributions to GrafTech and its stakeholders. I
would also like to thank Tim and Catherine for assuming these new
responsibilities. Both possess decades of experience in leadership
positions and industry-related expertise, and I am confident they
will continue to make meaningful contributions in their new roles.
I look forward to working with Tim, Jeremy, Catherine and the rest
of the leadership team during this pivotal and exciting time for
GrafTech.”
Mr. Flanagan was appointed GrafTech’s Chief Financial Officer,
Vice President Finance and Treasurer in November 2021. He
previously served as Executive Vice President, Chief Financial
Officer of Cleveland-Cliffs Inc., a flat-rolled steel producer and
supplier of iron ore pellets, from January 2017 to February 2019.
Prior to being promoted to Executive Vice President, Chief
Financial Officer of Cleveland-Cliffs, he held a variety of
financial leadership roles at Cleveland-Cliffs since joining in
2008. More recently, he served as Chief Financial Officer of
Benesch, Friedlander, Coplan & Aronoff, LLP, an AmLaw 200 law
firm, from June 2019 to November 2021.
Ms. Hedoux-Delgado has served as Vice President, Corporate
Controller of GrafTech since April 2012 where she has been
responsible for the accounting and financial reporting of the
Company. Prior to joining GrafTech, she spent 20 years at Lexmark
International Inc., a multinational printing product and services
company, where she held numerous finance and accounting leadership
roles.
The Nominating and Corporate Governance Committee of the Board
(the “Committee”) will work with a leading executive search firm to
conduct a global search for a non-interim Chief Executive Officer
and President and assist the Committee in considering both internal
and external candidates. The Committee will make recommendations to
the Board with the Board making the final decision on a non-interim
successor.
About GrafTech
GrafTech International Ltd. is a leading manufacturer of
high-quality graphite electrode products essential to the
production of electric arc furnace steel and other ferrous and
non-ferrous metals. The Company has a competitive portfolio of
low-cost, ultra-high power graphite electrode manufacturing
facilities, including three of the highest capacity facilities in
the world. We are the only large-scale graphite electrode producer
that is substantially vertically integrated into petroleum needle
coke, our key raw material for graphite electrode manufacturing.
This unique position provides us with competitive advantages in
product quality and cost.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements reflect our current views with respect to, among other
things, financial projections, plans and objectives of management
for future operations, and future economic performance. Examples of
forward-looking statements include, among others, statements we
make regarding future estimated volume, pricing and revenue,
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earnings per share and adjusted EBITDA. You can identify these
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confident,” or the negative versions of those words or other
comparable words. Any forward-looking statements contained in this
press release are based upon our historical performance and on our
current plans, estimates and expectations considering information
currently available to us. The inclusion of this forward-looking
information should not be regarded as a representation by us that
the future plans, estimates, or expectations contemplated by us
will be achieved. Our expectations and targets are not predictions
of actual performance and historically our performance has
deviated, often significantly, from our expectations and targets.
These forward-looking statements are subject to various risks and
uncertainties and assumptions relating to our operations, financial
results, financial condition, business, prospects, growth strategy
and liquidity. Accordingly, there are or will be important factors
that could cause our actual results to differ materially from those
indicated in these statements, including those factors described in
the “Cautionary Note Regarding Forward-Looking Statements” and
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forward-looking statements made in this press release relate only
to events as of the date on which the statements are made. Except
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Michael Dillon 216-676-2000
GrafTech (NYSE:EAF)
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