Klaus Kleinfeld’s Letter to Alcoa Employees
April 2009
For the past many months, the economic downturn has tested us all. Together, we’ve faced what seems like more than our share of challenges and urgent business priorities. It’s during these times – when the pressures of the business are most intense -- that we re-emphasize our commitment to our core values. Now more than ever, we need to do the right thing.
I personally feel fortunate to work for Alcoa -- a company that places tremendous importance on ethical behavior, and on integrity, accountability, safety and health. Each of us has an obligation to ensure zero tolerance of misconduct. Integrity is the "True North" that guides Alcoans even in the most difficult of times. The guiding principle at Alcoa is that we are always open, honest and trustworthy in dealing with customers, suppliers, coworkers, shareholders and the communities where we have an impact. None of us is perfect, yet as long as we embrace our integrity value, we will emerge from the toughest of challenges, stronger than ever.
No company is fit for long-term success unless it has reliable and tested standards and processes for compliance, and those of Alcoa are regarded as state-of-the-art by external compliance experts. Alcoa’s leaders are responsible for using those systems to make compliance reviews and integrity discussions with their teams a regular occurrence; to actively monitor and detect infractions; and to take swift and definitive action wherever a violation may occur. This is our commitment to our customers, our shareholders, our communities and our employees.
Integrity also drives our actions when it comes to the environment, and the health and safety of our employees. We will never compromise these intrinsic values for profit or production – and that is non-negotiable.
Often, our commitment to ethics and integrity is recognized by those outside of Alcoa, and that was the case with the 2008 Covalence Ethical Ranking - a major international ethics scorecard that measures the reputation of international companies. Alcoa achieved an important recognition for its enduring commitment to ethical business – we were ranked number one in the Basic Resource category, and in the top 10 among ethical companies across all industries and companies. This continues our perfect record -- Alcoa has been ranked first in the metals and mining industry and in the top 10 among all companies since the ranking began in 2005.
The Covalence ranking confirms what Alcoans have practiced for 120 years – a relentless focus on integrity, ethics and compliance; a profound respect for the individual and for the environment; and embedded integrity in everything we do. These values are more important than ever.
I hope you share my pride in being associated with a company that is so widely respected for its strong and enduring values.
Klaus Kleinfeld
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Klaus Kleinfeld
President and Chief Executive Officer
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