Will The Real CEO Of Braidy Industries Please Stand Up?
Conflicting accounts about the status of Braidy Industries CEO Craig Bouchard have led to confusion. Bouchard is disputing a press release from his own company announcing he would be stepping down.
Braidy Industries and its proposed aluminum mill in Ashland, Kentucky have drawn scrutiny since it was revealed that a formerly blacklisted Russian company had planned to take a major stake in the project.
Now, more questions are swirling around Braidy, as Bouchard is denying a Thursday report by his own company that he would leave the CEO post but remain on the company’s board of directors. That press release did not give any reasons for the abrupt change.
Friday, Bouchard used a Facebook post to say he did not authorize the release. It went on to say he is not stepping down and plans to draft a longer statement.
Former Gov. Matt Bevin announced Kentucky would be investing $15 million in Braidy’s aluminum mill project two years ago.
Current Gov. Andy Beshear recently released a slate of sought-after documents pertaining to the company, including a letter of intent regarding Kentucky’s investment, along with stock purchase, voting, and investors’ rights agreements. The materials also disclosed the names of those invested in Braidy Industries.
Runswitch PR, the course of the original press release, told WYMT that "The Board of Directors of Braidy Industries confirmed its action of Jan. 28, 2020, removing Craig Bouchard as CEO and Chairman. The Board and CEO Tom Modrowski are committed to the Ashland community and focused on building the Kentucky mill."