Arconic Inc. named Charles “Chip” Blankenship as CEO, effective January 15, 2018. Blankenship is a 24-year veteran of General Electric who spent much of his career in its aviation and jet engine businesses, including running its commercial engine operations.

Blankenship, 51, brings 20 years of aerospace experience to Arconic, having worked across GE’s aviation businesses, including aero engines, industrial gas turbines and aerospace alloy development.

Blankenship is a member of the National Academy of Engineering and serves on the board of the National Association of Manufacturing (NAM), where he has also led NAM’s Task Force on Competitiveness & the Workforce. He holds seven patents related to jet engine technology.

Arconic’s board praised Blankenship’s “deep operating experience in aerospace and materials science.”

A metallurgist by training, Blankenship will replace interim CEO David Hess, who has served as since April 2017 when former CEO Klaus Kleinfeld was forced out.

For the third quarter of 2017, Arconic reported sales at its Engineered Products and Solutions (EP&S) segment, which includes Alcoa’s former $1.8 billion Fastening Systems and Rings business, grew 5% to $1.5 billion.

“Increased aerospace volume and continued net cost savings were partially offset by unfavorable price and mix,” the company stated.

Segment adjusted EBITDA rose 5.4% to $312 million, while margins remained flat at 21.1%.

Overall Q3 sales at Arconic increased 3% to $3.2 billion, driven by higher volumes across all business segments as well as higher aluminum prices. Organic revenue was up 5%, while net income dropped 28% to  $119 million.

Sales during the first nine months of 2017 declined 2.7% to $9.4 billion, while net income fell 42% to $375 million.

Arconic was formed in 2016 after Alcoa’s board unanimously approved a plan to separate Alcoa into two independent, publicly-traded companies. Web: arconic.com