The following message was posted on the Facebook page of Craig T. Bouchard, CEO of Braidy Industries and chairman of the board and CEO of Braidy Atlas:
I have just stepped off an international flight. I did not authorize the press release that was issued yesterday. I have not stepped down as the CEO of Braidy Industries, and I am the Chairman of the Board and CEO of Braidy Atlas.
After I complete my next flight, have a chance to kiss my wife and hug my kids, I will begin to prepare a longer statement for you and for the press. Maybe for Monday consumption.
My sole focus is rebuilding Ashland and NEK. Im sorry for the stress that was created in Ashland yesterday. You don’t need that. Craig
Here is the press release Braidy Industries submitted Thursday:
ASHLAND, Ky. (BUSINESS WIRE) — As Braidy Industries enters its final fundraising stage, the company announced Thursday that Chairman and CEO Craig Bouchard will step down from his current position. He will remain a member of Braidy Industries’ Board of Directors.
President Tom Modrowski has been named interim CEO of Braidy Industries and current board member Charles Price has been named chairman of the board.
As a native of Kentucky and successful entrepreneur, Price is well positioned to focus the company on the completion of the aluminum mill initiative in Ashland.
“The board is grateful to Craig for his vision, energy and dedication to the Kentucky operation,” said Charles Price, chairman of the board. “Tom and the board will continue to focus our efforts on completing fundraising and planning for construction of the Ashland mill.”
Modrowski has been with Braidy since its inception and has more than 30 years’ experience in the metals business including senior leadership roles at various metal and metal processing businesses.
Site planning work and fundraising continues unabated for the first greenfield aluminum rolling mill in the U.S. in more than 37 years. The 1.5 million square foot complex will use state-of-the-art technology to serve the rapidly growing needs of the transportation industry.
Bouchard, age 66 and a resident of Naples, Fla., will continue his charitable work through the Braidy Hope Foundation established to support youth causes and combat opioid abuse in Ashland and Northeast Kentucky.