The board of directors for Franklin-based IBC Advanced Alloys Corp. has announced the search for a new leader. The company says Duncan Heinz has resigned as chief executive officer, though a reason for his resignation was not given.
Heinz, a retired major general in the U.S. Marine Corps, also served as president of IBC and a member of the board of directors. He has served on the board since 2011 and was named chief operating officer in January 2016. He was promoted to CEO nearly six months later.
The board says the company will be led on an interim basis by an executive management committee consisting of IBC Board Chair Mark Smith and board members Geoffrey Hampson, Mike Jarvis and Simon Anderson. A search for a permanent successor is underway.
"The Board of Directors, the company’s major investors, and the entire IBC organization remain singularly focused and increasingly aligned on the urgency of attaining sustained profitability, substantially growing revenue from both our copper and beryllium alloys businesses, and continuing to deliver world-class, industry-leading products and services to our customers worldwide," Smith said in a news release.
IBC Advanced Alloys produces beryllium and copper advanced alloys for the defense, aerospace, automotive, telecommunications, and precision manufacturing industries, among others. The company has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri.