Multinational aluminum producer Alcoa is building the experience and knowledge-base of some of its top finance executives by having them swap jobs. Although it is hardly a new trend for companies to groom finance executives for the top position by putting them through their paces in various different functions and departments, it is an interesting twist for the two execs to simply switch jobs.
On August 1, Alcoa Vice President and Controller Tony Thene will take over as CFO of Alcoa's engineered products and solutions business group (EPS). Taking his place will be current EPS CFO Graeme Bottger. Thene will stay a vice president and will join the company’s executive council. Bottger—already on the council—was elected an officer of the company.