Global Brass & Copper elects John Wasz as CEO Global Brass and Copper Holdings announced that John J. Wasz has been elected by the board to the position of CEO and will assume a seat on the board of the company effective immediately. Earlier, John Walker retired from his position as CEO of the company, but he will continue to serve as the non-executive chairman of the board. Wasz joined the company as the president of Olin Brass in 2010.
Global Brass and Copper downgraded to Neutral from Buy at Goldman Goldman Sachs downgraded Global Brass and Copper Holdings to Neutral citing a decline in munition demand and lower margins from import pressures following the company's Q3 results. Goldman dropped its price target for shares to $14.50 from $19.
Global Brass & Copper lowers 2014 adjusted revenue to $529M-$537M Previous adjusted revenue view was $568M-$575M. Lowers 2014 adjusted EBITDA to $108M-$111M from $118M-$123M. Lowers 2014 shipment volume view to 510M-518M pounds from 536M-542M pounds.