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Get filing alertsKaiser Aluminum names Fred Stephan CEO effective Nov 1; Keith Harvey transitions to Executive Chairman
Filed August 17, 2026 · Period ending August 12, 2026 · ~1 min read
Key Changes
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Fred Stephan, 61, becomes CEO and President on November 1, 2026, succeeding Keith Harvey as part of planned succession. Stephan brings 38 years of manufacturing experience, most recently as COO of Amcor overseeing 200+ sites globally.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Keith Harvey transitions from CEO to Executive Chairman, remaining on the board through 2028 annual meeting. He will serve as special advisor through October 2027 to support the transition after 45 years with the company, including six as CEO.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Stephan's compensation includes $1.15M base salary, $1.44M annual incentive target, and $4.43M long-term incentive target (50% performance-based starting 2027), plus $3.767M RSU grant vesting March 2029 and $2M sign-on RSUs vesting over two years.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Stephan receives enhanced severance: 2x base plus target bonus (~$5.2M) for non-change-in-control terminations without cause, increasing to 2.5x (~$6.5M) for change-in-control related terminations, plus extended COBRA coverage.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Kaiser Aluminum executed a planned CEO succession, appointing Fred Stephan as Chief Executive Officer and President effective November 1, 2026. Stephan, 61, brings extensive manufacturing and operations leadership from Amcor, where he served as COO overseeing 200+ manufacturing sites across 35+ countries with 40,000 employees, and prior senior roles at Johns Manville and GE.
He joins the board as a Class III director, expanding it from nine to ten members. Keith Harvey, who led Kaiser Aluminum as CEO for six years and has been with the company for 45 years, transitions to Executive Chairman and will serve as a special advisor through October 2027 to support continuity.
The board credited Harvey with building strong operational teams, creating leadership development programs, and positioning the company as a differentiated industry leader. His existing severance agreement terminates upon the transition, though he remains on the board through the 2028 annual meeting. Stephan's compensation package totals approximately $7 million in annual target compensation plus equity grants, including a $3.767 million RSU grant vesting in March 2029 and a $2 million sign-on grant vesting over two years. The succession appears orderly, with Harvey's extended advisory role designed to ensure operational continuity during the leadership transition.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Kaiser Aluminum announces CEO succession: Fred Stephan to become CEO/President Nov 1, 2026; Keith Harvey transitions to Executive Chairman.
Added in current filing · verify on EDGAR →
Fred Stephan will become the Chief Executive Officer and President of the Company, to succeed Keith A. Harvey, effective as of November 1, 2026 (the date Mr. Stephan commences his employment with the Company, the “Effective Date”) as part of the Company’s succession planning process. On the Effective Date, the size of the Board will increase from nine to ten directors, and Mr. Stephan will become a Class III director.
Kaiser Aluminum is executing a planned CEO succession. Fred Stephan, age 61, will become CEO and President on November 1, 2026, succeeding Keith Harvey. Stephan brings extensive manufacturing and operations experience from Amcor (Chief Operating Officer overseeing 200+ sites globally) and prior senior roles at Johns Manville and GE. He will also join the board as a Class III director, expanding the board from nine to ten members.
Added in current filing · verify on EDGAR →
Keith A. Harvey entered into a letter agreement with the Company dated August 12, 2026, pursuant to which he will step down from the role of Chief Executive Officer and President and become Executive Chairman, effective as of the Effective Date (the “Transition Letter”). Mr. Harvey will also continue to serve in his capacity as a Class I director with a term expiring at the Company’s annual meeting of stockholders in 2028 and until his successor is duly elected and qualified, or his earlier death, resignation or removal.
Keith Harvey will transition from CEO/President to Executive Chairman on November 1, 2026, remaining on the board as a Class I director through the 2028 annual meeting. He will serve in a special advisory role through October 31, 2027 to support the transition. His compensation during the transition period includes continued base salary through year-end 2026, his full 2026 bonus, then $0.9 million base and $0.9 million incentive target for 2027, plus a reduced $2.2 million RSU grant. Outstanding equity awards will vest without proration despite his employment change.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The Transition Letter also provides that, as of the Transition Date, Mr. Harvey’s amended and restated severance agreement will terminate and be of no further force and effect other than with respect to restrictive covenants in Section 7 of that agreement and that Mr. Harvey will not participate in the Company’s severance plan for salaried employees.
Harvey's existing severance agreement terminates upon his transition to Executive Chairman, except for restrictive covenants which remain in effect. He will not participate in the company's severance plan for salaried employees going forward, reflecting his new advisory and board role rather than executive officer status.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Kaiser Aluminum Corporation (“Kaiser Aluminum” or the “Company”) (NASDAQ: KALU) today announced a leadership transition, with the Board of Directors appointing Fred Stephan as Chief Executive Officer and President, effective November 1, 2026, as part of its long-term succession planning process. He will be based in Franklin, Tennessee. Mr. Stephan succeeds Keith A. Harvey, who has led the Company since July 31, 2020, and has served as Chairman of the Board of Directors since January 1, 2025. Mr. Stephan will also join Kaiser Aluminum’s Board at the time of his appointment. Mr. Harvey will serve as a special advisor to Mr. Stephan through October 31, 2027, to support a seamless transition and remain on the Board as Executive Chairman.
Fred Stephan will become CEO and President on November 1, 2026, succeeding Keith Harvey who has led the company since July 2020. Harvey will transition to Executive Chairman and serve as a special advisor through October 2027. This is part of a planned succession process, with Stephan also joining the Board upon his appointment.
Added in current filing · view on EDGAR →
Over the past 38 years, Mr. Stephan has focused on identifying customer needs and developing value-added solutions while driving improved profitability and performance across a variety of complex global manufacturing operations. He most recently served as Chief Operating Officer of Amcor Global Flexible Packaging Solutions, where he oversaw global manufacturing, R&D and commercial functions, including sales, marketing and product management, for over 200 manufacturing sites, across more than 35 countries with 40,000 employees. From 2019 to 2024, Mr. Stephan served as a Business Group President of Amcor Flexibles North America following Amcor's acquisition of Bemis Company, where he had served as President of Bemis North America.
Fred Stephan brings 38 years of manufacturing operations experience, most recently as COO of Amcor Global Flexible Packaging Solutions overseeing 200+ manufacturing sites across 35+ countries. He previously served as Business Group President of Amcor Flexibles North America and held senior roles at Johns Manville and General Electric.
Added in current filing · view on EDGAR →
On behalf of the entire Board, we are grateful for Keith’s leadership over the past six years and his commitment to Kaiser Aluminum over the past 45 years. His contributions across every stage have been instrumental in shaping the Company into what it is today. Throughout his tenure, and particularly as CEO, he has built a strong operational and commercial team, created a multi-disciplined leadership development program to ensure consistency of our culture and strategic direction, and positioned Kaiser Aluminum as a highly differentiated leader in our industry.
Keith Harvey has been with Kaiser Aluminum for 45 years and served as CEO for the past six years. The Board credits him with building strong operational and commercial teams, creating leadership development programs, and positioning the company as a differentiated industry leader.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 18, 2026 · How we verify