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[May 2008]
Alcoa Board Elects Klaus Kleinfeld President and CEO
Alcoa's Board of Directors has elected Klaus Kleinfeld President and CEO. He succeeds Alain Belda as CEO. Mr Belda will continue as Chairman of the Board.
Commenting on the announcement, Alain 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, Mr Kleinfeld served most recently as President and CEO of Siemens AG. In just two years as President and President/CEO of Siemens AG, he 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 capitalisation almost doubled.
Prior to his service on the Managing Board of Siemens AG, Mr Kleinfeld was President and CEO of Siemens Corporation, the US division of the company. During his tenure, the US company grew in both size and profitability, becoming the company’s largest region. During his 20-year Siemens career, he also successfully led one of Siemens global medical diagnostic businesses and developed the renowned Siemens Management Consulting organisation. He was also critical to the creation of top+, the company’s operating system.
www.alcoa.com
ENDS