Pittsburgh, Pa.-based Allegheny Technologies (NYSE: ATI ) has a new, albeit temporary, CFO.
On Monday, the maker of high-performance metal parts announced that Chief Financial Officer Dale G. Reid has retired effective immediately, for unspecified "personal reasons." Taking his place is Senior Director for Strategic Projects and Business Integration Patrick J. DeCourcy, a 15-year veteran of the company, who has been promoted to the position of interim chief financial officer.
Allegheny has not yet filed details on any new compensation plan for DeCourcy. The company says it is in the process of searching for a new, permanent CFO.
Allegheny shares dropped 1.6% on the news, closing at $26.90.