August 29: Global canstock manufacturer Novelis is looking for a new president and chief executive following the surprise announcement by its board that Brian Sturgell is being replaced.
William Monahan, chairman of the Novelis board of directors, will serve as an interim chief executive until a suitable candidate has been found. It is thought that the replacement will be found externally.
“The past 18 months have been difficult for Novelis,” Monahan said. “During this period, we have had to address significant challenges, including the impact of unprecedented increases in metal prices and an extensive financial review and restatement process.”
