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ON THE MOVE ARCONIC ADDS TWO EXCEPTIONAL DIRECTOR CANDIDATES TO COMPANY SLATE, BRINGING VALUABLE AEROSPACE EXPERTISE Arconic announced its nomination of former Boeing Commercial Airplanes President and Chief Executive Officer James “Jim” F. Albaugh and Air Force retired General Janet C. Wolfenbarger for election to Arconic’s board of directors at the company’s 2017 annual meeting. Albaugh and Wolfenbarger will stand for election with current directors David Hess, Amy Alving, and Ulrich Schmidt. Ratan Tata, who has been a valued member of the board, has resigned as a director to focus on other business interests. With his departure, the board has nominated Albaugh and Wolfenbarger to stand for election to fill the two vacancies on the board. Arconic previously offered to appoint two Elliott Management nominees to the board. Elliott and its nominees rejected the offer. Upon the election of Arconic’s candidates, nine directors of 13 will have joined the board in the last 16 months, making it one of the shortest tenured boards in the S&P 500. Arconic’s board would continue to consist of 13 directors, 12 of whom are independent, and three of whom were nominated by Elliott last year. Together, Arconic’s director nominees for the 2017 annual meeting have decades of combined aerospace and defense experience. Their deep expertise spans aerospace structures, jet engines, defense, manufacturing and engineering, technology, finance, and purchasing – all highly relevant to Arconic’s core business.

Take your advice from Mark Zweig to-go.

Albaugh is an internationally recognized aerospace executive who was the president and CEO of Boeing Commercial Airplanes until his retirement in 2012. Prior to that role, Albaugh was president and CEO of Boeing Integrated Defense Systems and president of Rocketdyne Propulsion and Power. Albaugh is the chairman of the National Aeronautic Association, past chairman of the Aerospace Industries Association, and serves on the boards of American Airlines and Harris Corporation. He holds a master’s degree in civil engineering from Columbia University and is an elected member of the National Academy of Engineering. The aerospace segment represents close to half of Arconic’s overall revenue today and has significant prospects for the future. Albaugh brings a deep understanding of the aerospace segment’s needs. Wolfenbarger is a retired four-star general who was responsible for procurement, science and technology, test and evaluation, logistics and supply chain for the U.S. Air Force; she oversaw an approximately $60 billion annual budget, including a large portion of the approximately $1 billion of business that Arconic does in the defense industry. In her last military role, Wolfenbarger oversaw an organization of 80,000 people and led significant restructuring of the Air Force Materiel Command to improve efficiency. Wolfenbarger was the first female four-star general in Air Force history. Among her many accomplishments, Wolfenbarger holds a master’s degree in aeronautics and astronautics from the Massachusetts Institute of Technology.

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1200 North College Ave. Fayetteville, AR 72703 Mark Zweig | Publisher mzweig@zweiggroup.com Richard Massey | Managing Editor rmassey@zweiggroup.com Christina Zweig | Contributing Editor christinaz@zweiggroup.com Sara Parkman | Editor and Designer sparkman@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com

MARK ZWEIG, from page 1

Promotion from within – a real history of doing it – is always one of the keys to long- term success and the firm’s ability to keep people over time. But if you don’t have that ideal candidate inside, don’t let any grass grow under your feet finding someone from the outside. Too often firms act like they are so stunned they let weeks go by without even STARTING to look. No reason for that! Get on it now! 3)Communicate with everyone else in the firm quickly, and move to shore up any of the people who worked directly with or under the person who is leaving. Many times, people on their way out the door attempt to recruit their underlings or co- workers to go with them. The best defense is a strong offense. Ask these people directly if they are considering leaving. If they need a pay boost or some new tools or a better workspace, give it to them quickly. 4)Communicate with your clients immediately. Assure them all is well, you have someone specific or a number of other potential replacements on board, and that you wish old “so-and-so” the best in their future endeavors. Hold your head high, and avoid the temptation to trash talk the person who is leaving – no matter how justified it may seem to you. Like any divorce – in business or in one’s personal life – if you keep your head high and concentrate on taking action, you will get through this problem. Always take the proverbial high road. When you do, things may turn out to be even better in the end! MARK ZWEIG is Zweig Group’s chairman and founder. Contact him at mzweig@zweiggroup.com.

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THE ZWEIG LETTER June 5, 2017, ISSUE 1203

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