AMG Advanced Metallurgical introduces new president

Specialist metals and metallurgical vacuum furnace producer AMG Advanced Metallurgical Group N.V. (AMS: AMG) announced the appointment of its new Company president.

Today’s appointee was named as Thomas Centa, who has served as AMG Advanced Metallurgical Group’s Executive Vice President since May 2018, and reports to AMG’s CEO Eric Jackson. The new role became available after the departure of long-standing Company president Hoy E. Frakes Jr., who held the position for almost two decades.

The Company said that Mr Frakes will remain within the Group to provide oversight for the Company’s vanadium expansion projects in Zanesville, Ohio and the Shell and AMG recycling B.V. joint venture.

Elsewhere, Thomson Reuters Corp (TSE: TRI) appointed a new Board member, Phoenix Group Holdings (LON: PHNX) named their new Chief Executive, GVC Holdings Plc (LON: GVC) introduced their new non-executive chair and Angling Direct PLC (LON: ANG) welcomed a new CFO.

AMG Advanced Metallurgical statement

Speaking on the announcement, Company CEO Mr Jackson commented,

“I want to thank Hoy for his leadership and commitment in making AMG Vanadium the global environmental leader in processing spent resid catalysts. We are also extremely pleased to have Tom lead the AMG Vanadium team as we expand on our global leadership position.”

Investor notes

Following the update, the Company’s shares have rallied 0.48% or 0.12p to 25.30p per share 12/11/19 11:51 CET. The Company’s dividend yield currently stands at 1.99%, the market cap is €788.68 million.