Apollo Global Management Inc.’s APO, +0.76% Arconic Corp. said late Friday it had named Chris Ayers as its new chief executive and board chairman, effective Sept. 11. Ayers has served on the industrial company’s board for seven years and held several executive positions in “key businesses” within Alcoa, the company’s predecessor, before this board role, Arconic said. Current Arconic CEO Tim Myers will serve as adviser, the company said. Myers was Arconic’s first CEO as a standalone company in 2020. A reason for his departure was not disclosed. Apollo’s deal to buy Arconic, announced in May, closed last Friday.
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