April 17 U.S. specialty metals maker Arconic
Inc's chief executive, Klaus Kleinfeld, has resigned,
following attempts by activist hedge fund Elliott Management to
overthrow the company's directors and top executives.
Arconic said Kleinfeld stepped down after the board learned
he had sent a letter to a senior officer of Elliott Management
without consulting the board.
"This decision was not made in response to the proxy fight
or Elliott Management's criticisms of the company's strategy,
leadership or performance...," the company said in a statement.
Board member David Hess has been appointed as interim CEO.
(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb