Arconic Appoints Charles “Chip” Blankenship Chief Executive Officer; John Plant Named Chair of the Board

October 23, 2017

NEW YORK–(BUSINESS WIRE)–Arconic Inc. (NYSE:ARNC) announced today that its Board of Directors has
appointed Charles “Chip” Blankenship as Chief Executive Officer and a
member of the Arconic Board of Directors, effective January 15, 2018.
Mr. Blankenship is a 24-year veteran of General Electric (GE) who spent
much of his career in its aviation and jet engine businesses, including
running its commercial engine operations.

Blankenship, 51, brings 20 years of aerospace experience to Arconic,
having worked across GE’s aviation businesses, including aero engines,
industrial gas turbines and aerospace alloy development. Blankenship
previously led GE Aviation’s Commercial Engines Operation, the world’s
leading producer of large and small jet engines for commercial aircraft.

A metallurgist by training, Blankenship began his career with GE in 1992
after earning a B.S. in Materials Engineering from Virginia Tech and a
Ph.D. in Materials Science and Engineering from the University of
Virginia. Blankenship’s GE career culminated in his appointment as
President and Chief Executive Officer of GE Appliances in December 2011,
where he led a significant turnaround of the business and its subsequent
2016 sale to Haier Company.

Blankenship is a member of the National Academy of Engineering and
serves on the board of the National Association of Manufacturing (NAM),
where he has also led NAM’s Task Force on Competitiveness & the
Workforce. He holds seven patents related to jet engine technology.

Chip Blankenship said, “Arconic is a company with significant strengths
and tremendous potential. I am eager to engage with customers, employees
and the Board to develop plans that capitalize on our strengths, and
deliver outstanding returns for our shareholders. I am excited to join
the team and get started."

Ms. Russo said, “After a thoughtful and deliberate search, the Board is
unanimous that Chip Blankenship is the right leader to take the helm at
Arconic. Chip is an exceptional executive with deep operating experience
in aerospace and materials science. He has a strong customer orientation
and impressive leadership skills. We are confident that Chip will lead
Arconic to create sustainable and increasing value for customers and for
shareholders.”

David Hess, who has served as Arconic’s Interim CEO since April 2017,
will remain CEO until the start of Blankenship’s tenure and will
continue to serve on the Board after the transition. Interim CEO Hess
said, “I have known Chip Blankenship for many years as a colleague and
competitor in the aerospace industry and I can personally attest that he
is an excellent fit for Arconic. I couldn’t be happier with the Board’s
selection. I’m looking forward to working with him to ensure a seamless
transition and continuing my service as a director to help realize the
vast potential of Arconic.”

Acknowledging Hess’s service as Interim CEO, Ms. Russo said, “The Board
extends its sincere appreciation to David Hess for leading Arconic
during its transition to a permanent CEO. We look forward to David’s
continued service as a director.”

John Plant, an Arconic director since 2016, has been appointed Chair of
the Board effective immediately. He succeeds Pat Russo, who stepped into
the role on an interim basis in April 2017; Ms. Russo will continue her
service on the Board and chair the Governance committee. Mr. Plant, 64,
has had a distinguished career in the automotive industry spanning
nearly 40 years. He previously served as Chairman of the Board,
President and Chief Executive Officer of TRW Automotive, which was
acquired by ZF Friedrichshafen AG in May 2015.

Chair Plant said, “As Arconic approaches its first anniversary as a
standalone public company it has much to look forward to; together with
the entire Board, I look forward to working with Chip to drive Arconic’s
success into the future.”

About Arconic

Arconic (NYSE: ARNC) creates breakthrough products that shape
industries. Working in close partnership with our customers, we solve
complex engineering challenges to transform the way we fly, drive, build
and power. Through the ingenuity of our people and cutting-edge advanced
manufacturing techniques, we deliver these products at a quality and
efficiency that ensure customer success and shareholder value. For more
information: www.arconic.com.
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