NEW YORK, August 15 /CNW/ - 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 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
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(R) 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
For further information:
For further information: Alcoa Investor Contact Tony Thene, 212-836-2674
or Media Contact Kevin G. Lowery, 412-553-1424 Mobile: 724-422-7844