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August 15, 2007
Klaus Kleinfeld Elected Alcoa President and Chief Operating Officer
NEW YORK--(BUSINESS WIRE)--Alcoa (NYSE:AA) announced today that Klaus Kleinfeld has been elected
president and chief operating officer by the company’s
Board of Directors. Mr. Kleinfeld, 49, served most recently as President
and Chief Executive Officer of Siemens AG, a global electronics and
industrial conglomerate. At Alcoa, he will have full responsibility for
all operating activities of the company. Mr. Kleinfeld has been on Alcoa’s
Board of Directors since 2003 and will retain his position on the Board.
He will be based in New York and take over his responsibilities on
October 1, 2007.
Announcing the appointment, Alcoa Chairman and CEO Alain Belda said,
"Klaus has a proven track record of running successful complex,
international businesses. He is a seasoned leader who demands results,
and has a keen sense of the strategic challenges facing the company
through his work on the Board. Klaus is joining our team at a time when
we are achieving record top and bottom line results, and have good
prospects for the future. With Klaus as part of our strong leadership
team, Alcoa’s future looks even brighter."
Alcoa’s Lead Director, Frank Thomas said, “We
have the highest degree of confidence in our colleague Klaus, and are
delighted that he will take over day-to-day responsibility for the
company’s operations and businesses.”
In just two years as President and President and Chief Executive Officer
of Siemens AG, Mr. Kleinfeld presided over a dramatic transformation of
the global electronics and industrial conglomerate. He reshaped the
company’s portfolio around three high growth
areas, revenues increased by more than $16 billion in 2006 alone,
operating groups met ambitious profitability targets, and the company’s
market capitalization almost doubled.
Prior to his service on the Managing Board of Siemens AG, Mr. Kleinfeld
was President and Chief Executive Officer of Siemens Corporation, the
U.S. division of the company. During his tenure, the United States grew
in both size and profitability, becoming the company’s
largest region. During his 20-year Siemens career, Mr. Kleinfeld also
successfully led one of Siemens global medical diagnostic businesses and
developed the renowned Siemens Management Consulting organization. He
was also critical to the creation of top+ , the company’s
Mr. Kleinfeld earned a Master’s degree in
Business Administration/Economics from the University of Goettingen
(Germany) in 1982. He received his Ph.D. in Strategic Management from
the University of Wuerzburg (Germany.)
Mr. Kleinfeld is a Member of the Board of both Bayer AG and Citigroup.
He also is a director of a number of international and industry groups.
A marathon runner who also enjoys skiing, tennis and the arts, Mr.
Kleinfeld will reside with his wife and family in the New York area.
Alcoa is the world's leading producer and manager of primary aluminum,
fabricated aluminum and alumina facilities, and is active in all major
aspects of the industry. Alcoa serves the aerospace, automotive,
packaging, building and construction, commercial transportation and
industrial markets, bringing design, engineering, production and other
capabilities of Alcoa's businesses to customers. In addition to aluminum
products and components including flat-rolled products, hard alloy
extrusions, and forgings, Alcoa also markets Alcoa®
wheels, fastening systems, precision and investment castings, structures
and building systems. The company has 116,000 employees in 44 countries
and has been named one of the top most sustainable corporations in the
world at the World Economic Forum in Davos, Switzerland. More
information can be found at www.alcoa.com
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