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| May 8, 2008
Alcoa Board Elects Klaus Kleinfeld President and CEO
PITTSBURGH--(BUSINESS WIRE)--Alcoa's Board of Directors has elected Klaus Kleinfeld, 50, President
and Chief Executive Officer of the Company. He succeeds Alain Belda, 64,
as CEO. Mr. Belda will continue as Chairman of the Board.
Commenting on the announcement, Belda said, "In the short amount of time
Klaus Kleinfeld has been an Alcoan, he has made a significant difference
for the company. Our election of him to the position of CEO reflects our
confidence in him as a truly global leader, capable of continuing to
capture the growth opportunities ahead. Klaus has extraordinary energy,
a keen understanding of global issues, is committed to continuing the
strong operating performance of Alcoa, and embraces our Values. We are
fortunate to have his leadership.”
Mr. Kleinfeld was named President and Chief Operating Officer of Alcoa
in August 2007. He has served as a director of Alcoa since 2003. The
change is effective immediately.
Prior to joining Alcoa, Kleinfeld served most recently as President and
Chief Executive Officer of Siemens AG, a global electronics and
industrial conglomerate. 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
operating system.
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 Bayer AG. 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 (NYSE:AA) is the world leader in the production and management of
primary aluminum, fabricated aluminum and alumina combined, through its
active and growing participation 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, and building systems. The
Company has 97,000 employees in 34 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
MULTIMEDIA AVAILABLE: http://home.businesswire.com/portal/site/alcoa/index.jsp?epi-content=MULTIMEDIA_GALLERY_PUBLIC_VIEW
&newsId=20080508006228
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