Allegheny Technologies Incorporated [NYSE: ATI]: Building Blocks for Medical Miracles
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Robert Wetherbee, CEO
2019 will be the dawn of a new leadership reign for Allegheny Technologies Incorporated (NYSE: ATI) and its employees. As 2018 draws to a close, Robert Wetherbee, as ATI’s new CEO, is all set to march the company’s horses to new heights from the steady hands of Richard Harshman. “ATI begins the next phase of its journey from a position of strength as a more aligned and integrated, technology-focused global leader in specialty materials and complex components in the medical space. It is the absolute right time for this transition to a leader who played a key role in all that we have accomplished since 2014. Bob is an excellent selection to lead the company into the future,” mentions Harshman.
For a company which has evolved through many years of innovations, a simple change in the leadership may look next to nothing from the outside, but for Wetherbee, the roads will be full of new challenges and opportunities that come with them. Under Harshman’s visionary leadership, Allegheny has grown as a global manufacturer of technically advanced specialty materials and complex components in a medical space. The company has carved a significant niche for itself in offering materials for producing specialty tools as they have become essential for modern medical devices and equipments. The company’s titanium, stainless steel, and superalloy materials have over the years helped many clients by providing them the strength, formability, and biocompatibility in the knee and hip implants, orthopedic screws and braces, dental implants, spinal implants, cardiac stents, and pacemaker lead wires amongst other equipments. Further, Allegheny’s specialty materials play a huge role in medical systems as well. For instance, the niobium-titanium alloys developed and offered by the company are used in superconducting magnets that power MRI equipment.
It is the absolute right time for this transition to a leader who played a key role in all that we have accomplished since 2014. Bob is an excellent selection to lead the company into the future
For Wetherbee, what works in his favor is the fact that he holds significant experience in leading teams at Allegheny and has a firsthand understanding as to how the company and its operations work. He first joined ATI in 2010 to run the Tungsten Materials business, which under his leadership, achieved record financial performance results before its divestiture in 2013. While Wetherbee left ATI in early 2013 to serve as the CEO of another public company for approximately one year, Harshman brought him back to lead the transformation of the company’s Flat-Rolled Products (FRP) business. In his brief but fruitful career at ATI, Wetherbee transformed the company’s FRP business into a producer of high-value differentiated products with their innovative Hot Rolling and Processing Facility.
Being a market leader in manufacturing specialty alloys and forgings, Wetherbee will add to the prowess that ATI has made in the space. The company’s vision hinges on one core value that its prioritizes above all else: “Never stop innovating” and Wetherbee is all set to augment the relentless innovation at the company’s labs. ATI’s product development competence promises to retrace the success streak that their manufacturing and precision machining capabilities have carved. “We pledge to meet the needs of all of our customers and to solve the challenges of the modern world. Future generations will require robust and versatile materials and components produced in an ecologically sustainable manner. Here at ATI, we’re determined to meet that need,” concludes Harshman.
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