Insider Buying And A Spinoff Mean It’s Time To Take A Second Look At Arconic
Mar 21, 2019
The serving Chairman and newly appointed CEO of the aluminum giant Arconic, which is facing a class action suit following the deaths of 72 victims in the London Grenfell fire in 2017, is cashing in and could make as much as $20 million in just a year as he takes a smoke-and-mirrors approach to the company’s future.
John Plant, who agreed to a “perpetual” gagging order when he took the helm last month, bought nearly $4 million worth of shares in addition to his $1.6 million base salary in a one-week buying-spree, according to analysts at The Edge, who have been following developments amid his plans for a Spinoff designed to push up the share price.