GrafTech International Ltd (NYSE:GTI) announces Asmussen’s promotion


Dallas, Texas 09/19/2013 (Financialstrend) -GrafTech International Ltd (NYSE:GTI) announced that Eric Asmussen was promoted from the Vice-president of strategy, Planning & Corporate Development post to Chief Executive Officer. He takes Lindon Robertson’s place. The latter has joined the company in 2011. GrafTech International Ltd (NYSE:GTI) has not yet disclosed any compensation-information for Asmussen. He had joined the synthetic & natural graphite and carbon products-maker in 1999 as a tax-director.

The background

Before joining the company, he was in tax-related positions at Corning and also at AT&T. Later he worked with the now-defunct firm, Arthur Andersen LLP.  GrafTech International Ltd (NYSE:GTI) said that Robertson left to pursue other opportunities. He received a compensation of $1.2M. As per the proxy filing, this was inclusive of a salary of $400,000 and options and stock awards that totaled to $595,944. In the filing, the company said that Robertson will provide transition-assistance and that he will receive his base-salary right up until 2014 March.

 Wednesday’s trading

In Wednesday’s trading session, GrafTech International Ltd (NYSE:GTI)’s stock dropped by 0.57%. The opening price of the shares was $8.86 million which touched an intraday high of $8.90 and closed at $8.79. Approximately 1.26 million shares were traded on Wednesday while the average-volume of shares traded over 30 days was 1.10 million. The company has a market capitalization of $1.19 billion.

About the company

 GrafTech International Ltd (NYSE:GTI) is a company that manufactures graphite-electrodes. These are essential for producing electric arc furnace, steel and numerous other non-ferrous and ferrous metals. It also produces needle-coke products. These are the base raw-material required for manufacturing graphite electrodes.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.