, Columnist
Arconic's Board Is Asking for a Fight
With activist Elliott keeping up its fight, the pressure is on to address concerns about its performance.
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The bizarre manner in which Arconic Inc. CEO Klaus Kleinfeld was ousted leaves the board on the hot seat.
Kleinfeld's removal had been the central focus of Elliott Management Corp.'s campaign for leadership change and improved financial performance at the metal-components maker. As of last week, both he and the activist investor appeared prepared to see this fight all the way through to a shareholder vote next month. Come Monday morning, though, Kleinfeld was out.