Allegheny Technologies Inc. ATI, +2.00% said Tuesday that Richard Harshman plans to retire after over seven years in the role, and 41 years at the company, to spend more time with his family. The specialty materials and components company said it appointed Robert Wetherbee, who joined ATI in April 214, as CEO, effective Jan. 1, 2019. Wetherbee is currently executive vice president of flat rolled products. Diane Creel, who has been ATI's lead independent director since 2011, will become chairman following Harshman's retirement. The stock, which was still inactive in premarket trade, has lost 7.7% over the past three months, while the S&P 500 SPX, +0.51% has gained 3.4%.
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