Atlanta Business Chronicle names Novelis' Steve Fisher CFO of the Year
ATLANTA, June 1, 2012 /PRNewswire/ -- Novelis Inc., the Atlanta-based world leader in rolled aluminum products and can recycling, announced today that its senior vice president and chief financial officer, Steve Fisher, has been named Atlanta's CFO of the Year by the Atlanta Business Chronicle. The Atlanta-based business publication presented Fisher with the award for top CFO among large private companies on June 1, 2012, at a ceremony in the Hyatt Regency Atlanta.
"Steve's forward thinking has been a vital part of Novelis' growth, and on behalf of the company, I congratulate him on the remarkable achievement of winning CFO of the Year," said president and chief executive officer of Novelis, Phil Martens. "He has played an essential role in the turnaround of this company, helping us to transform it into a truly world-class corporation and the leader in our industry in few short years."
In recognizing Fisher, the publication cited his innovative ideas to improve risk management, reduce costs and achieve record financial growth. Since Fisher joined Novelis in 2006, the company has undergone significant refinements to its business model, including changes in management and restructuring. Under his financial leadership, in 2010 Novelis completed a $4.8 billion capital refinancing and returned a $1.7 billion dividend to its parent company. Novelis is expanding globally and, since the start of 2010, has announced investments totalling nearly $1.4 billion. For its recently completed 2012 fiscal year, the company reported adjusted EBITDA of more than $1.0 billion and net sales of $11.1 billion.
Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling. The company operates in 11 countries, has more than 11,000 employees and reported revenue of $11.1 billion in fiscal year 2012. Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial, electronics and printing markets throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries Limited (BSE: HINDALCO), one of Asia's largest integrated producers of aluminum and a leading copper producer. Hindalco is a flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India. For more information, visit www.novelis.com and follow us on Twitter at twitter.com/Novelis.
SOURCE Novelis Inc.