Metal injection molding (MIM) and additive manufacturing (AM) company the ARC Group has appointed Drew M Kelley as interim CEO and board member, replacing Jason T Young, who is leaving his position with the company and board to pursue other interests.
Kelley has served as the company’s chief financial officer since October 2013, and prior to joining the company, was an investment banker and equity research analyst.
‘I appreciate the confidence the board has placed in me and look forward to working with the entire ARC organization as we establish and implement initiatives designed to improve operational efficiency, increase financial profitability, and create a stronger balance sheet,’ said Kelley. ‘Due to poor decisions and execution by the company over the past several months, ARC will evaluate all aspects of our business and consider, where appropriate, non-cash write-offs in order to put these matters behind us as we enter our new fiscal year this July. To that end, we have already initiated a robust review of our cost structure across all business units, and have, with the board’s approval, completed operational adjustments and other measures necessary to achieve these established objectives.’
‘We thank Mr Young for his service as CEO of ARC and wish him success as he pursues other opportunities,’ said chairman of the board, Alan G Quasha. ‘In connection with these leadership changes, the company will refocus its efforts to build upon its core capabilities of metal injection molding and metal 3D printing.’
This story is reprinted from material from the Arc Group, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
