mr. kleinfeld.'m looking through the press release here. what i can tell you is mr. kleinfeld they say stepped down as chair and ceo by mutual agreement after the board learned that without consultation with or authorization by the board, he had sent a letter directly to a senior officer at elliott management that the board determined showed poor judgment. they say this decision was not made. that is effectively to ask for his resignation it would appear. in response to the proxy fight the criticisms of the strategy, leadership and performance and not in many any way related to the financials or records of the company. clearly, requiring a bit more reporting it would seem to look into this. given that the board had remained steadfastly it would appear behind the leadership of mr. kleinfeld, which of course was under strong criticism from elliott which claimed that arconic was significantly underperforming and would benefit from new management and frankly, a refresh to a certain extent of the board,

kleinfeld to be making veiled suggestions that he might intimidate or extort mr. based on mr. singer's family trip to germany in '06 when he attended the world cup. then they come out on the 17th and say in a public announcement today he chose to inject dr. kleinfeld's letter into the news. this may have served whatever preemptive services you may have been trying to achieve, but it made a privately bad situation a publicly one. jim, the tenor of this battle was fairly nasty. >> yeah. >> it is not uncommon in activist situations. i know elliott does this for them to hire private investigators to try to cook up or find dirt on the ceo. maybe just as an intimidation tactic. go through his trash, knock on his neighbors' doors all of which may have happened here and clearly mr. kleinfeld took the bait. he shouldn't have. and he did. >> this is a very ill-advised letter. i actually had someone go through the german papers which first broke the story and the german papers played it as such, an attempt to be able to make it so that singer would have to withdraw his very

worded response to clause kleinfeld's resignation, the pattern of failed board oversight demonstrates that meaningful board level change is mandatory at arconic and that comes after mrsignation. they say arconic noted dr. kleinfeld's departure came that showed poor judgment, to be clear, the letter read as a threat to intimidate or extort a senior officer of elliott management, based on completely false insinuations. a threat we took seriously and about which we immediately and privately informed the board. this is highly inappropriate behavior by anyone and certainly by the ceo of i regulated publicly trusted company in the mid of the of a proxy context. this letter cannot be viewed in isolation, it is simply the latest debacle in a pattern of conduct which the board has repeatedly excused and endorsed and participated in. dr. kleinfeld's poor leadership and attempts to entrench himself on the board. when such conduct manifests itself as it has here, it is not a ceo problem, it is a board problem. so brian, it really appears as though there is going to be another chapter of this particular story. it's a very strongly worded response. >> i'm looking here, did somebo